September 23, 2018

Romania gets EUR480M Disbursement from IMF

On Thursday, the International Monetary Fund completed the second review of Romania’s economic performance under a EUR3.5 billion precautionary loan agreement. This enabled the disbursement of a new EUR480 million tranche. In March, Romania and the IMF signed a two-year precautionary loan agreement, successor to a EUR20 billion bailout package received during 2009-2011. The new deal also includes EUR1.4 billion financing from the European Union and a EUR400 loan from the World Bank. Until now, the IMF approved total financing to Romania worth over EUR1 billion under the new arrangement, but the authorities in Bucharest have not drawn any funds.

Source: Mediafax () The contemporary reader’s understanding of a novel such as dracula would have been different from ours, friday contends

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