-0.3 C
Bucharest
February 8, 2023
BUSINESS

EUR 1.567 bln reimbursed to IMF from loan contracted in 2009

Romania is paying today EUR 162 M to the International Monetary Fund (IMF) from the stand-by loan contracted in 2009, according to Public Finance Ministry (MFP) data.

Since the start of the year, our country has reimbursed over EUR 1.567 bln to the International Monetary Fund, the European Union and the World Bank.

Most of the sum, namely over EUR 1.546 bln, was paid to the EU on January 1. Of that sum, EUR 1.5 bln represented principal reimbursements and RON 46.2 M represented interest and fees. On February 1 the Romanian state paid RON 18.3 M to the World Bank (interest and fees) and on February 5 it paid EUR 3 M to the IMF (interest and fees).

In 2015, Romania has to reimburse a total of approximately EUR 1.860 bln to the three financial institutions.

The reimbursements are for the financial package offered to Romania by international lenders in 2009, a package with a total value of EUR 19.95 bln. In 2009 Romania signed a 24-month stand-by agreement worth EUR 12.95 bln with the IMF, as part of a EUR 19.95 bln support package offered by the IMF, EU and World Bank. Through this arrangement with the IMF, Romania drew seven of the eight installments entailed, worth 10.57 bln SDRs (approximately EUR 11.9 bln).

At the request of the Romanian authorities, the eighth installment was considered a precautionary one and was not used against the backdrop of favorable macroeconomic developments.

 

Related posts

BNR’s foreign reserves, slightly up

Nine O' Clock

Forte Partners presents its entire office portfolio in digital format through the Bright Spaces platform

NINE O'CLOCK

2,000 hope that the mining project will begin at Rosia Montana

Nine O' Clock