The Executive Board of the International Monetary Fund (IMF) today completed the fifth review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of SDR 769 million (about €884.0 million or about US$1.19 billion), bringing total disbursements under the program to SDR 9.8 billion (about €11.27 billion or about US$15.11 billion). In completing the review the Executive Board also approved Romania’s request for a waiver of non-observance of the end-June 2010 performance criterion on general government domestic arrears.
The SBA was approved on May 4, 2009 (Press Release No 09/148) in the amount of SDR 11.443 billion (about €13.15 billion or about US$17.64 billion). The arrangement entails exceptional access to IMF resources, amounting to 1,111 percent of Romania’s quota.
News source: IMF link: article
The SBA was approved on May 4, 2009 (Press Release No 09/148) in the amount of SDR 11.443 billion (about €13.15 billion or about US$17.64 billion). The arrangement entails exceptional access to IMF resources, amounting to 1,111 percent of Romania’s quota.
News source: IMF link: article
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