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BRIEF: Ponta: Government to pass decision as legal framework for lower bank loan instalments

February 3, 2014

Agerpres, Bucharest, Romania

Feb. 03 -- BUCHAREST -- The Government will pass a decision to allow individuals who contracted bank credit and have maximum monthly income up to 1,610 lei to agree with the bank the halving of their instalments for two years. 'It is a measure to be adopted by Government Decision. (...) We finally got the approval by our international partners. It is an action in support to individuals with bank loans. First of all, it applies to credit contracted by individuals, either employees or retirees. The condition is that they have monthly incomes up to the average net salary, 1,610 lei , and no outstanding instalments overdue by more than 90 days. It is obviously an optional measure, not mandatory for individuals, but offered to any of the 907,000 current natural person debtors,' Prime Minister Victor Ponta said on Monday, after the final round of dialogue with the representatives of the International Monetary Fund . He added that this cutting in half will apply to all credits, but cannot exceed 500 lei . According to the prime minister, 'this measure has also been discussed for more than one month with the National Bank of Romania .' ___ (c)2014 Agerpres, Bucharest, Romania Visit Agerpres, Bucharest, Romania at Distributed by MCT Information Services

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Source: Agerpres (Romania)

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