IMF To Transfer EUR2.45B To Romania Tuesday

Half of the money will go to the state budget, while the other half will be deposited at the central bank.

The IMF on Friday approved the disbursement of EUR2.45 billion for Romania after completing new reviews of the country’s performance under a EUR13 billion standby agreement.

Romania and the IMF agreed last spring on the stand-by loan, as part of a EUR20 billion package that also includes funds from the European Commission, the World Bank and other international lenders.

So far, Romania has received roughly EUR7 billion in IMF money and a first loan tranche of EUR1.5 billion from the Commission.