Romania pays 2% to 3.4% interest on IMF and EU loans

Romania's Finance Ministry will pay an interest between 2.375 percent and 3.375 percent a year for the first three installments of a EUR 5 billion loan from the European Union, according to the government’s public debt management strategy for 2011-2013. The document, quoted by Mediafax newswire, wrote the annual interests for the loans taken from the International Monetary Fund and the World Bank as part of a EUR 20 billion financial package reach between 2 percent and 2.3 percent. Romania has received so far EUR 11.3 billion in IMF money, another EUR 4.85 billion from the EU and EUR 600 million from the World Bank. On Friday, the IMF approved a new EUR 3.6 billion credit line for Romania, part of a EUR 5 billion precautionary deal that includes funds from the European Commission. Source: Mediafax