National Bank of Romania, compelled to inform IMF if foreign exchange reserves fall below 23 billion euros

The National Bank of Romania (BNR) will be compelled to immediately inform the Fund and the EC in case the stock of foreign exchange reserves falls below the floor of 23 billion euro, shows the Technical Memorandum released by the IMF, in the context of the beginning of the fourth evaluation mission in Bucharest on the Stand-by Precautionary Agreement, headed by Jeffrey Franks.According to the document, the two institutions, the International Monetary Fund and the European ...

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