Jeffrey Franks: Money from IMF to be released within 48 hours after IMF Board meeting

The money from the International Monetary Fund (IMF) will be released to Romania within 48 hours after the IMF’s Board meeting in mid-February, the IMF mission chief Jeffrey Franks told a press conference on the findings of the assessment mission conducted by the financial institution in Romania.

In her turn, Fabienne Ilzkovitz, head of unit at the European Commission said that following discussions on positive findings recorded by the assessment mission in Romania, the tranche from the European Commission will be released in March.

Romania will receive in February the 3rd and the 4th tranches (worth 2,3 billion euros) of the loan contracted with the IMF, with half of the money to enter the social security account and the other half to go by the BNR (National Bank of Romania) to cover the budget deficit. Romania will get 1 billion of euros from the European Commission.

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