IMF: Next Tranche To Go Only To Romania Ctrl Bk

„The next disbursement will be exclusively directed to the central bank,” Mihai Tanasescu told MEDIAFAX.

In the spring of 2009, Romania and the IMF agreed on a EUR13 billion stand-by loan, part of a larger financial package that includes funds from the European Union and other international lenders.

Romania has already received EUR9.2 billion in IMF money in four tranches. The Fund has allowed Romania to use part of the last three disbursements, or EUR2.2 billion, to finance its budget deficit.

The IMF should release the fifth tranche, worth some EUR850 million, provided a successful review of Romania’s performance under the agreement. An IMF mission is currently in Bucharest for the fourth review of the stand-by program.