23.2 C
Bucharest
August 6, 2021
BUSINESS

Romania must pay EUR 157.3 M to IMF, EU and IBRD in September

Romania in September must pay more than EUR 157.3 M to the International Monetary Fund (IMF), the European Union (EU) and the International Bank for Reconstruction and Development (IBRD) of the stand-by loan contracted in 2009, according to the data supplied by Romania’s Government. Thus, the sum to be paid to the IMF amounts to EUR 121.1 M, the one to the EU, to EUR 26.9 M and the one to the IBRD, to EUR 8.3 M. This year Romania must effect payments worth over EUR 1.164 bln to the IMF, the EU and the IBRD. Since the beginning of the year EUR 721 M have been paid of the total sum of money owed. Reimbursements are made for the financial package given to Romania by international creditors in 2009, which is worth a total EUR 19.95 bln. The year 2015 is the time when the authorities have to pay the largest amount: EUR 1.826 bln. In 2009 Romania initialled a 24-month stand-by loan worth EUR 12.95 bln from the IMF, which was part of the support package worth EUR 19.95 bln given by the IMF, the EU and the World Bank. Romania received seven of the eight tranches worth a total SDR 10.57 bln (about EUR 11.9 bln) of this arrangement with the IMF. The eighth tranche was regarded as a precautionary one at the request of the Romanian authorities and was not used in the context of the favourable macroeconomic developments.

Related posts

Citibank launch the first Smart Banking Branch in Romania

Test

OMV: Depending on price and taxes, Black Sea gas will be sold on the local market

Nine O' Clock

PwC Romania Barometer study: Deferral of tax obligations payment is the most useful of the fiscal measures taken in the context of the COVID-19 pandemic

NINE O'CLOCK