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September 25, 2021
ECONOMY FINANCE&BANKING

Romania has to repay over 4.88 billion euros by 2023, to international financiers

Romania has to repay over 4.88 billion euros by 2023 to international financiers, from the stand-by loan taken out in 2009, according to the data released by the Public Finance Ministry (MFP).
The debt to the International Monetary Fund (IMF) was fully repaid in February 2015, namely 165 million euros. Romania repaid a total of some 2.49 billion euros to the IMF. The remaining sum of over 4.8 billion euros has to be repaid to the World Bank and the European Commission.
The MFP graph shows that 2015 was the payment peak for the loan, that is 1.8 billion euros, but there are still three large payments in 2017, 2018 and 2019. In 2017, Romania has to repay over 1.2 billion euros, in 2018 – 1.4 billion euros and in 2019 -1 billion euros.
This year, from 1.83 billion euros, Romania has to repay 33.5 million euros to the World Bank (WB) and the European Commission (EC).

In 2009, Romania signed a stand-by loan agreement for 24 months worth 12.95 billion euros with the IMF, part of a support package of 19.95 billion extended by the IMF, EU and WB. Under this arrangement, Romania took possession of seven of the eight installments, amounting to 10.57 billion SDR (some 11.9 billion euro).
The 8th installment was considered, at the request of the Romanian authorities, of preventive type, and thanks to the favorable macroeconomic trend, it has not been used

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