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Foreign debt of the Socialist Republic of Romania
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Foreign debt of the Socialist Republic of Romania : ウィキペディア英語版
Foreign debt of the Socialist Republic of Romania
The foreign debt of the Socialist Republic of Romania were loans made by Socialist Republic of Romania under Nicolae Ceaușescu from international creditors denominated in hard currencies. These loans were used to buy technology, equipment and raw materials needed for the industrialization of the country.
As oil prices increased during the 1979 energy crisis, together with the rising international interest rates, Romania found it difficult to pay it back, leading to the necessity to request the IMF a line of credit. As such loans had strings attached (structural adjustment), Ceaușescu decided that Romania should pay all its debts, leading to the 1980s austerity policy in Romania.
==Loans and industrial development==

Early in the 1970s, the Western countries were willing to fund Romania's acquisition of technology through loans given on political considerations.〔 The debts of Romania to Western creditors rose from just $1.2 billion in 1971 to a peak of $13 billion in 1982.〔Georgescu, p. 270〕

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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