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National Bank of Romania Keeps Key Interest Rate At 6.25%
National Bank of Romania Board (BNR) decided, in today’s monetary policy meeting, to keep key interest rate at 6.25%, for the ninth consecutive session. Also, the minimum reserve requirement ratios in lei and foreign currency demanded from credit institutions were kept at the current level of 15% and 20%. citeste mai mult
IMF Approves First Review Of New Loan Deal With Romania
The International Monetary Fund Board approved on Monday the first review of the precautionary up deal with Romania. The IMF officials evaluated Romania's performance in the first quarter, as well as reforms which the authorities have pledged to implement. As a result of the approval of the review, the IMF will make available the second tranche, worth around EUR480 million. In March, Romania and the IMF signed a EUR5 billion loan agreement, successor to a larger EUR20 billion bailout package that ended in April this year. Under the new deal, the IMF will disburse Romania EUR3.5 billion, while the EU and the World Bank contribute with EUR1.4 billion and EUR400 million, respectively. However, Romania will access the funds only in case of economic distress. citeste mai mult
