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Romanian banking association condemns general loan moratorium – Reuters

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Romanian banking association condemns general loan moratorium – Reuters

Romania's banking association is against a general moratorium on the repayment of loans to help borrowers during the novel coronavirus outbreak, arguing it would worsen liquidity in the banking system, Reuters reported March 30.

The Romanian government said banks could allow corporate and retail clients to delay loan repayments by up to nine months, but the banking association argued that personalized solutions for borrowers are needed and universal repayment moratoriums should be avoided.

Romania declared a state of emergency on March 16 over the COVID-19 epidemic, with 2,245 infections and 69 deaths reported as of March 31.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.