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May 9, 2021

Romania has to pay over 39 million euro in April to the EU

Romania has to pay over 39 million euro in April to the European Union, from the stand-by loan contracted in 2009, the entire amount representing interests and fees, according to data released by the Ministry of Finance (MFP).

In March, the state paid the World Bank interests and commissions worth 2.3 million euro.

In 2017, Romania has to pay an overall amount of 1.26 billion euro to the European Union and the World Bank. Of this amount, 1.15 billion euro represent capital ratios, and the rest, interests and commissions. Over 1.25 billion euros are to be repaid to the EU and 9 million euro to the World Bank.

In 2016, Romania paid 113 million euro to the EU and the World Bank. Most of the amount was reimbursed to the European Union, namely 104 million euro. The World Bank was paid back 9.1 million euro.

In 2015, the state reimbursed more than 1.83 billion euro to the International Monetary Fund, the European Union and the World Bank. 2015 was also the year in which the IMF loan was paid. Romania repaid this institution a total of over 2.49 billion euro.

Romania paid the European Union in 2015 over 1.651 billion euro, of which 1.5 billion were capital ratios and the rest, interests and commissions. The World Bank was paid 9.5 million euro (interests and fees). Between 2009 – 2016 the total amount reimbursed to the three institutions exceeded 4.9 billion euro.

Romania still has to pay, by 2023, more than 4.7 billion euro to the World Bank and the EU. The largest amount will go to the EU, namely 3.71 billion euro.

The MFP graph shows that 2015 was the peak of payment for the loan, that is 1.8 billion euro, but there are still three large payments in 2017, 2018 and 2019. In 2017, Romania has to pay more than 1.2 billion euro, in 2018 – 1.4 billion and in 2019 – 1 billion euro.

According to data from the National Bank of Romania, on May 4, 2009, the IMF Executive Board approved Romania’s request to conclude a stand-by arrangement for a two-year period, amounting to 11.4 billion SDR (about 12.9 billion euro or 17.1 billion US dollars) and the release of the first installment amounting to 4.37 billion SDR (about 4.9 billion euro or 6.6 billion US dollars).

Romania has been a member of the International Monetary Fund (IMF) since 1972, currently holding 1030.2 billion Special Drawing Rights (0.43 pct of total share).

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