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October 5, 2022

President Basescu signs decree on new agreement with the IMF

President Traian Basescu signed on Monday the decree regarding promulgation of the law on approving the Government Emergency Ordinance 45/2013 on ratifying the letter of intent of the Romanian authorities issued September 12, 2012, the presidency informs. The head of state also signed the decree on approving the letter signed by the Bucharest authorities on March 15, 2013 on extending the preventive stand-by agreement between Romania and the IMF, approved by the IMF board on March 25, 2011. In another development, according to data provided by the Romanian government and cited by realitatea.net, Romania was scheduled to pay EUR 122.1 million to the International Monetary Fund (IMF) as part of the stand-by loan contracted in 2009; the amount consists of capital interest reimbursements. Romania must pay a total of EUR 1.164 billion to the IMF, EU and EBRD. EUR 756.2 million of the total amount has been paid since the beginning of the year. The payment peak for this package is 2015, when authorities must reimburse EUR 1.826 billion.

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