Romania To Draw €480M IMF Loan Tranche

Romania and the International Monetary Fund (IMF) have agreed to unlock around €480 million in funds, Bloomberg reports. The money, to be withdrawn from the funds, can be tapped under the country’s crisis-prevention agreement.

The move comes after a IMF mission reviewed Romania’s progress under a €5 billion precautionary deal and recommended to the IMF board to make available a second installment. The east European country reduced its budget deficit to within its target and started selling state assets.

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