Romania gets its foreign currency reserves ready for winter loan paybacks

End of November 2012, Romania's national foreign currency reserves appear to have engaged on a slight downward slope from EUR 31.7 billion , where they stood one month before, to EUR 31.167 billion , their current level, as reported by the National Bank of Romania. The reasons behind this change are to be found in explanations on the national receipts and spending provided by Romania's central bank (BNR). Thus, a EUR 3.3 billion inflow is put, among other things, down to the funds having entered the accounts of the Ministry of Public Finance, the changes in the minimum foreign currency reserves set up by credit institutions as well as on the money transferred into the EU Commission account. The corresponding financial outflow for the reference period, which amounts to EUR 3.9 billion, includes installment and interest payments made on Romania's sovereign debt, among which a noteworthy EUR 161.5 million (the equivalent) RON 726.8 million was paid back to the International Monetary Fund (IMF). Other indicators of Romania's current financial status see the national gold reserve holding steady at 103.7 tonnes for a total worth of over EUR 4.4 billion. With eggs spread in several baskets, Romanian international reserves, both foreign currency and gold, stand at EUR 35.6 billion at the end of November, a mere EUR 583 million less than one month before. Payments due in December 2012 on account of Romania's public debt amount to EUR 376.5 million. Ioana Jelea, ioana.jelea@romania-insider.com