Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion

June 10, 2009

Preview Citation

Format: Chicago

Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion, (USA: International Monetary Fund, 2009) accessed December 22, 2024

Summary

Romania’s GDP growth averaged more than 6½ percent per year from 2003 to 2008, as foreign direct investment and capital inflows helped finance high consumption and investment growth. The staff report for Romania’s request for a Stand-By Arrangement is also elaborated. Robust export growth to EU countries reflected the process of increasing economic integration with western European economies. The rapid increase in borrowing that fueled the boom left Romania highly exposed to global financial difficulties and to exchange rate volatility.

Subject: Banking, Commercial banks, Credit, Debt service, Exchange rates, External debt, Financial institutions, Foreign exchange, Public debt

Keywords: Capital injection, Commercial banks, CR, Debt service, Eastern Europe, Exchange rates, Financial support, Financial support package, Financing gap, Global, Helping ease bank lending, Interbank market rate, ISCR, Lending, Romania

Publication Details

Pages:

85
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/183
Stock No:

1ROMEA2009001
ISBN:

9781451832914
ISSN:

1934-7685

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