The bank loan moratorium, for bank debtors facing financial problems due to the crisis prompted by the war in Ukraine, was enacted by the Romanian Government on June 29. Those who face increases in spending by 25% are entitled to request the moratorium, which allows for the deferral of installments. 

Finance minister Adrian Câciu, however, recommended those debtors who can pay their installments not to use the instrument because they'll eventually pay more.

"It is an instrument available to those who really have difficulty because, obviously, any postponement of installments will lead to the obligation for these installments to be paid later and with a series of costs along with them, respectively the related interest," Câciu said, quoted by Economica.net.

The moratorium was also approved by the National Bank of Romania (BNR) but also by the Romanian Association of Banks (ARB).

It is a tool for those in difficulty, both individuals and legal entities, minister Câciu explained.

He outlined some alternatives customers have: switching to a fixed interest rate, switching from one benchmark to another (from ROBOR to IRCC) or refinancing the loan, rescheduling or restructuring the loan.

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andrei@romania-insider.com