ECONOMY FINANCE&BANKING

Romania must repay 113 mln euros to EU, World Bank in 2016

Romania has to repay 113 million euros in 2016 to the European Union and the World Bank from the stand-by loan taken out in 2009, according to the data issued for Agerpres by the Ministry of Public Finance (MFP).

Thus, the bulk of the amount must be repaid to the European Union, namely 104 million euros. Some 9.1 million euros will go to World Bank. The entire amount of 113 million euros represents interest and commissions.

In 2015, Romania paid over 1.83 billion euros to the International Monetary Fund, European Union and World Bank. Also, 2015 was also the year when the loan from the IMF was repaid. Thus, the latest instalment was in February and amounted to 165 million euros. Romania repaid to that institution a total of over 2.49 billion euros.

This year, Romania repaid over 1.651 billion euros to the European Union. Some 9.5 million euros (interest and commissions) was repaid to World Bank.

Between 2009 and 2015, the total amount repaid to the three institutions amounted to 4.837 billion euros, of which over 2.396 billion euros to the IMF, 2.273 billion euros to the EU and 67 million euros to the World Bank.

Romania has to repay, by 2023, over 4.88 billion euros to the World Bank and the EU. The largest amount will go to the EU, 3.8 billion euros respectively.

The MFP graph shows that 2015 was the peak of the loan repayment – 1.8 billion euros, but there are still three large repayments in 2017, 2018 and 2019. In 2017, Romania will have to repay more than 1.2 billion euros, in 2018 – 1.4 billion euros and in 2019 – 1 billion euros. In 2017, the bulk of the sum will go to the European Union, that is 1.254 billion euros, of which 1.15 billion euros are instalments and 104.8 million euros are interest rates and commissions.

Related posts

Over 5,000 farmers protest in Bucharest

Nine O' Clock

Romania holds 60 pc of total European mineral water reserves

Nine O' Clock

Minister for Business Milieu, Commerce and Entrepreneurship Stefan-Radu Oprea pays official visit to Beijing: Romania seeks to cross USD 1 bln mark for exports to China in 2019

NINE O'CLOCK