Romania may receive by the end of the year another tranche out of the EUR 13 billion stand-by loan from the International Monetary Fund, a fund official said Monday, quoted by Mediafax.  The money will enter the central bank's reserves, said Jeffrey Franks, head of the IMF mission to Bucharest (in picture, right).

The central bank should get another installment by the end of the year so that its position will be very solid, Franks said after a meeting with the central bank's officials.  An IMF mission is currently in Bucharest to review Romania's progress under the stand-by arrangement, which was approved in May 2009. Romania received so far around EUR 11.5 billion in IMF money and EUR 3.6 billion from the EU.

According to the terms of the IMF deal, the country should receive mid-December the seventh installment worth some EUR 870 million.

Mediafax