Romania still needs to pay over EUR 4.9 billion of its stand-by loan made in 2009. The Government completed paying its debt of almost EUR 2.5 billion to the International Monetary Fund in February this year, but it still has over EUR 4.9 billion to pay to the World Bank and the European Commission.

The peak was this year, when Romania had to repay EUR 1.8 billion, but the country still needs to carry out three large payments in 2017, 2018, and 2019. In 2017, Romania needs to pay over EUR 1.2 billion, in 2018 - EUR 1.4 billion, and in 2019 - about EUR 1 billion, reports local Capital.ro. This year Romania still has to pay EUR 33.5 million to the World Bank and the European Commission.

In 2009, Romania made a stand-by loan agreement worth EUR 12.95 billion with the IMF. Most of the money went to Romania’s National Bank (BNR), which needed it to defend the exchange rate from strongly depreciating. BNR still has to repay some of its debt to the IMF.

Romania borrowed in total EUR 19.95 billion from the IMF, European Commission, and the World Bank.

editor@romania-insider.com