September 23, 2018

IMF approves new stand-by arrangement for Romania

According to a press release, tThe Executive Board of the International Monetary Fund (IMF) approved Friday a new 24-month Stand-By Arrangement (SBA) in an amount equivalent to SDR 1.75 billion (about EUR 1.98 billion. The authorities informed the IMF that they intend to treat the new arrangement as precautionary, and therefore do not plan to draw under it. Also, they have requested precautionary support from the European Union of EUR 2 billion. Following the Executive Board’s discussion on Romania, Nemat Shafik, First Deputy Managing Director and Acting Chair, stated the new SBA will support policy continuity, provide a reserve buffer, and catalyze growth-enhancing reforms. It will also put Romania “on the path toward exiting from Fund support.”

Source: Nine o’clock (read more)

Er ließ er sich in lübben nieder, wo er am 27

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