The government approved on Wednesday morning a letter of intent which will be sent to the European Commission and the IMF, PM Emil Boc declared. Here are the main points of the agreement:

Jeffrey Francks - delegation chief

We have successfully ended negotiations with Romania for the financial pack of approximately 20 billion euro for Romania. The letter of intent will be sent in Washington and will be analyzed by IMF experts.the financial pack contains 12.9 billion euro from the IMF, some 5 billion from the EC and 1.5 from the World Bank and 1 billion from other international institutions500 billion euro - a support estimated by the European Bank for Reconstruction and DevelopmentA 2 year pack is most suited for Romania and authorities agreedAuthorities took up the loan to prevent economic problems Romania registered in the last year 2 major problems: one is the commercial balance of exports - imports. The international support will support finance this deficitThe second problem: the budgetary deficit that grew significantly in the last yearsThe financial aid will allow a gradual adjustment of the deficit, in time, and thus Romania will be able to adopt all necessary conditions to join the euro zoneRomania has a healthy capitalized financial sectorIt is very important to take measures now so that the system to remain well capitalized and banks to take up their credit activity Tomorrow we will have a meeting with major banks operating in Romania to sustain the financial pack for the country We confirm the support for Romania's Central Bank commitment to maintain inflation under control

Filip Keereman - European Commission, Head of Unit

The Commission will send a recommendation for the Council who will set up an agreement for May It is important to mention the budget condition: this year we need to have a smaller deficit than