Most of the payments were made to the IMF in the period 2010-2012. Late last month, the Central Bank vault had an equivalent of over 30 billion euros.
Foreign currency reserves recorded late last month the steepest decline in recent years: 5% in a single month. The reduction was due to the payment of a debt of 3 billion euros to the IMF and other creditors. It is true that the outputs were offset by inflows of 1.2 billion euros. So reserves reached 30.6 billion euros.
Having reached a 34.5 billion euros level in October 2013 all foreign reserves declined. But the current level of 30.68 billion euros, plus the stock of gold equals 3 billion, covering six months of imports. With such a guarantee, Romania was recommended that investments are safe here by the rating agency Standard and Poor's.
Romania signed a loan agreement of almost 20 billion in 2009 to strengthen the NBR reserve and cover the budget deficit. We still have to pay the IMF one billion in December 2014. Reserve currency is practically a guarantee for creditors that they have a "stock" that allows repayment of debts. Meaning , money saved up.