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BNR Governor Isarescu: The agreement with the IMF was initially thought to cover one year

26 martie 2009

Information in English

 
The agreement with the International Monetary Fund (IMF) was initially designed to cover one year and regard 11.8 billion euros, Governor of the National Bank of Romania (BNR) Mugur Isarescu said on Thursday.
 
'Initially, the IMF agreement was designed to cover one year and the loan was to be provided as follows: 8.5 billion euros by the IMF; 2.5 billion euros by the European Commission, 0.5 billion euro by the World Bank and  300 million euros by the European Bank for  Reconstruction and Development (EBRD),' Isarescu explained.
 
The governor said that the arrangement agreed upon is a complex one and covers 2009 (11.8 billion euros), 2010 (7.1 billion euros) and pat of 2011 (1.05 billion euros).
Out of the 19.95-billion-euro loan, 18.95 billion euros will be for the public sector and the remaining for the private sector.

 

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