Romania may receive another IMF installment by yearend

Romania may receive by yearend another tranche worth some EUR870 million out of the EUR13 billion stand-by loan from the International Monetary Fund (IMF).

According to Jeffrey Franks, the funds will enter the Romanian National Bank (BNR) reserves.

An IMF mission is currently in Bucharest to evaluate Romania’s progress under the stand-by arrangement approved in May last year.

The IMF loan is part of a larger financial package that also includes funds from the European Commission (EC), the World Bank (WB) and other international lenders. Romania received so far some EUR 11.5 billion from the IMF and EUR 3.6 billion from the EU.

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D.V.