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May 8, 2021

Romania repays 4.7 million euros of EU loan

Romania has paid on Sunday 4.7 million euros in interests and fees to the EU, out of a financing package offered by international creditors in 2009, leaving just 33.5 million euros debt outstanding this year, the Ministry of Public Finance (MFP) answered an inquiry of Agerpres.
In 2015, Romania repaid more than 1.8 billion euros to the International Monetary Fund, the World Bank and the European Commission. More than 4.88 billion euros still have to be reimbursed by 2023 to the World Bank and the EC only. The debt to the IMF has been settled by a last payment of 165 million euros in February, out of a total of 2.49 billion euros.
The MFP’s schedule shows 2015 as the peak of the debt repayment; important sums have to be paid also in 2017 (1.2 billion euros), 2018 (1.4 billion) and 2019 (one billion.
In 2009, Romania signed a 24-month stand-by agreement worth 12.95 billion euros with the IMF, within a 19.95 billion euros package issued by the IMF, the EU and the World Bank. Romania actually cashed seven out of the eight IMF installments, totalling 10.57 billion SDR (approximately 11.9 billion euros), and asked for the eighth installment as stand-by; favourable macro-economic evolutions eventually allowed the country not to use it.

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