The payment of external loan, the last Ceausescu’s grandiose project

On the 31st of March 1989, Nicolae Ceaușescu announced that he had paid the whole foreign debts. In the last ten years, Romania had paid 12 thousands millions dollars, which implied great sacrifice and restraints of the food and energy supplied to population. The Communist propaganda presented this event as a great success of the „genuine” of Ceausescu’s politics. It had been organized many demonstrations to mark „the economic independence” of the country. In reality, Ceaușescu was the main person responsible for the debts crisis. In the following paper, we present several documents regarding the payment of the external loan together with an analysis of the main reasons for accumulation of 12 thousands millions dollars debts.