IMF will disburse the second installment worth 1.718 billion SDR (around 1.9 billion euros) of the financial package granted to Romania on September 15, given the completion of the first review under the program due in August and assessment of the country’s economic performance by mid-year.
The third installment is also contingent on the conclusion of the second IMF review and on the economic performance at the end of 2009.
In 2010, Romania would receive four installments. On March 15, given the country’s performances at end-2009 and third IMF review under the stand-by arrangement, Romania should receive 766 million SDR (approximately 847 million euros) and on June 15, 768 million SDR (849 million euros).
On September 2010, the fifth tranche of the package should be 769 million SDR (850 million euros), similar to the sixth due in December 15, 2010.
The final tranche of 874 million SDR (966 million euros) is due to arrive in March 15 2011, givent he conclusions of MF’s final review of the nation’s performance criteria at the end of December 2010.
The first installment was disbursed on May 6.
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