Romania: Second and Third Reviews under the Stand-By Arrangement, Request Rephasing and Waiver of Nonobservance of Performance Criterion; Statement by the IMF Staff Representative; and Press Release on the Executive Board Discussion
IMF Staff Country Reports, February 24, 2010
Source details
- Canonical URL
- Romania: Second and Third Reviews under the Stand-By Arrangement, Request Rephasing and Waiver of Nonobservance of Performance Criterion; Statement by the IMF Staff Representative; and Press Release on the Executive Board Discussion
Other formats
Bibliographic details
- Published: February 24, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451832945.002
Key findings
- Most end-December 2009 quantitative performance criteria were met.
- The ceiling on the accumulation of domestic arrears at end-September was missed.
- Preliminary data suggest the end-December target for the accumulation of domestic arrears was also missed.
- The end-2009 inflation rate was slightly higher than the central bank target, but remained well within the inner band of the inflation consultation mechanism.
- The authorities have agreed to reschedule the benchmark for end-June 2010.
- IMF staff supports the waiver requested by the authorities.
Policy and program actions
- Agreement by the authorities to reschedule the benchmark for end-June 2010.
- IMF staff supports the authorities' request for a waiver of nonobservance of a performance criterion.
Subject coverage and keywords
- Subject: Balance of payments, Banking, Current account, Expenditure, External debt, Fiscal stance, Inflation, Prices, Public debt
- Keywords: consumer spending indicator, CR, Current account, deficit target, dynamics annual, Global, Inflation, ISCR, short term indicator, staff appraisal, staff projection, target