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MFP: The first tranche from IMF agreement to be reimbursed by BNR

The first tranche of the IMF loan, of EUR 5 bln, will be reimbursed by BNR from its own sources, not from the state budget, Mediafax informs.

Likewise, the amounts to come to the budget from the next tranches conduct to savings of interest rates, the Public Finance Ministry (MFP) stressed in retort to Bogdan Olteanu's declarations. The vice speaker of the Chamber of Deputies, Bogdan Olteanu (PNL), declared on Sunday, in a press conference, that PM lied when he said that the debts to FMI will not be paid by the Romanians, mentioning that each Romanian who has a job will pay EUR 1,800 for the EUR 9 bln from the first tranche.

"The first tranche of the IMF loan, in the amount of EUR 5 bln, was contracted by the National Bank of Romania to sustain the balance of payments. This loan does not represent public debt according to the Emergency Ordinance of the Government no. 64/2007 regarding the public debt, the reimbursement being made from the own sources of BNR. The destination of the first tranche from the International Monetary Fund was to consolidate the foreign currency reserves of the country, and the respective funds played an important role in reducing the minimum compulsory reserves in foreign currency of the Romanian banks, helping to create appropriate liquidities in the monetary market," reads the point of view conveyed by MFP.

The same stresses that further to the deterioration of the macroeconomic conditions and to the increase of the budgetary deficit target for 2009 to 7.3 per cent from 4.6 per cent, around 50 per cent of the funding of the budgetary deficit will be made from foreign sources.

Sursa: http://www.nineoclock.ro

Tags: bnr mfp tranche first fmi

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