Romania needs to pay EUR 39 million to the European Union in April from the stand-by loan the country took in 2009.

The entire amount represents interest and fees, according to the Finance Ministry, reports local Agerpres.

The state also paid interest and fees of EUR 2.3 million to the World Bank in March.

In total, Romania has to reimburse EUR 1.26 billion to the European Union and the World Bank in 2017. Of this amount, EUR 1.15 billion represent repayments, whereas the remaining amount stands for interest and fees.

In 2016, Romania paid EUR 113 million to the EU and the World Bank. The largest amount was reimbursed to the EU, namely EUR 104 million.

In 2015, the state reimbursed over EUR 1.83 billion to the International Monetary Fund (IMF), EU and the World Bank. The same year the country managed to reimburse its whole loan to the IMF. Romania still needs to pay over EUR 4.7 billion to the World Bank and the EU until 2023.

Romania took EUR 19.95 billion from the IMF, EU, and World Bank in 2009. Most of the money, namely EUR 12.95 billion came from the IMF and went into the central bank’s reserves to help it fight off a steep depreciation of the local currency. Romania also took EUR 5 billion from the European Union and EUR 2 billion from the World Bank, which went to the Finance Ministry and was used to cover the budget deficit.

editor@romania-insider.com