Romania failed to sell three-year and five-year bonds this month as investors asked for higher yield that exceeded the seven percent limit set by the Finance Ministry which succeeded in selling only short-term bonds to fiancé sovereign debt that reached 8.3% of GDP in 2009.

On the other hand, the country may be obliged to raise interest rate as inflation climbed to 7.1% last month after the government 5% increase on value-added tax.