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March 5, 2021

Next loan will be worth max EUR 8 bln

Romanian authorities currently envisage a loan of approximately EUR 5-6 bln for the next accord with the IMF, but the sum might increase to EUR 8 bln, depending on financing needs that will be decided in March 2011, Gandul.info quotes Government sources as saying. The sum will be made available to Romania under the form of a preventive agreement and may be accessed only in the case of an emergency. However, the state will pay the financing institution an annual commitment commission fee of 0.3 pc, no matter if the money will be used or not.Regarding a new agreement with the European Commission (EC), Romanian authorities and the EU Executive have not decided yet whether Romania will receive another loan, or a financing line similar to that of the IMF. Romanian authorities would rather take an EC loan, which would provide the budget with much cheaper financing than direct loans contracted on foreign markets. According to a press release, last night the Government was set to meet in session to approve the supplementary letter of intent agreed on with the International Monetary Fund (IMF) following the October-November review mission.

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