Second IMF loan disbursement reaches BNR accounts
Part of the money will be used to finance the Government deficit and 10 of the highest indebted Government-run companies will be closely monitored, IMF reports in a press release issued on Thursday.
The Stand-By Arrangement, under which the loan is granted, will be combined with other multilateral financial support to fill the country’s 2009-2010 financing gap.
The total international financial support package will amount to 19.9 billion euros, with the European Union providing 5 billion euros, the World Bank 1 billion euro, and the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the International Finance Corporation (IFC) a combined 1 billion euro.
Adrian Vasilescu, adviser to the BNR governor, says the money coming from the IMF will be divided in two: part of it will go to the accounts of the BNR and the remaining part to the account of the Finance Ministry to cover its deficit.