Romania: Ex Post Evaluation of Exceptional Access Under the 2011 Stand-By Arrangement

April 1, 2014

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Format: Chicago

Romania: Ex Post Evaluation of Exceptional Access Under the 2011 Stand-By Arrangement, (USA: International Monetary Fund, 2014) accessed November 23, 2024

Summary

This 2004 Article IV Consultation on Romania highlights commendable progress under its home-grown IMF-supported program. Economic activity is picking up after a four-year slump, inflation remains low, the financial sector is stable, and the fiscal and external positions are improving. The 2014 budget aims to protect the gains under the program, continue the downward debt-to-GDP trajectory, and advance the reform agenda. Debt has fallen considerably owing to completion of a large part of the debt-land swap, but remains high. The authorities have taken welcome steps to strengthen the nonbank financial institutions supervisory framework.

Subject: Arrears, Banking, Economic sectors, External debt, Fiscal consolidation, Fiscal policy, Macrostructural analysis, Public debt, Public enterprises, Structural reforms

Keywords: Arrears, Central bank, CR, Economic recovery, Europe, Fiscal consolidation, Foreign currency, Global, Government arrears, Government ordinance, Inflation band, ISCR, Program approval, Program condition, Program conditionality, Program strategy, Public enterprises, Reform agenda, Reform priority, Structural adjustment, Structural reforms, Successor program

Publication Details

Pages:

37
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/088
Stock No:

1ROUEA2014002
ISBN:

9781475579550
ISSN:

1934-7685

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