Romania pays back first tranche of IMF loan
2012-08-06 17:49:38
The time has come for Romania to start re-paying the loan it received from the International Monetary Fund, which helped the country weather the storm. Romania will today pay some EUR 670 million, the first installment of the loan it received three years ago. The country’s Central Bank (BNR) will pay out from its foreign currency reserve, which was of some EUR 32 billion at the end of July.
By the end of this year, BNR will have to reimburse some EUR 1.8 billion to service the IMF loan.
Romania received a EUR 12 billion stand-by loan in 2009, part of a EUR 20 billion package from several financial institutions, and agreed on a new EUR 5 billion safety net loan in 2011.