Romania Gets EUR12.95 Billion IMF Loan

Romania became the third EU member to receive a loan from the IMF in recent months (Hungary and Latvia were the first two), bagging a two-year rescue loan of EUR12.95 billion.

The country will receive the first tranche of EUR5 billion sometime this summer, say the IMF. I bet they can't wait for that cheque to arrive.

I want some new shoes

In total Romania says it needs a EUR20 billion bailout, the balance will come from the EU, World Bank and the European Bank for Reconstruction and Development.