Romania: Selected Issues and Statistical Appendix

July 26, 2004

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Romania: Selected Issues and Statistical Appendix, (USA: International Monetary Fund, 2004) accessed December 23, 2024

Summary

This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long periods of time have little incentive to reduce arrears. The state contributed to growth of arrears by accepting nonmonetary tax and utility payments, using tax offsets in procurement, and tolerating payment arrears. These practices have been prevalent at all levels of state and local government, as well as state utility companies.

Subject: Arrears, Central bank policy rate, Exchange rates, External debt, Financial services, Foreign exchange, Inflation, Prices, Producer prices

Keywords: Africa, Arrears, B. inflation dynamics, Baltics, Central and Eastern Europe, Central bank policy rate, CR, Exchange rates, Impulse response, Inflation, Inflation expectation, Interest rate, Interest rate pass-through, ISCR, Market rate, Producer price inflation, Producer prices, Rate, Slovak coefficient, Utility company arrears

Publication Details

Pages:

98
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/220
Stock No:

1ROMEA0022004
ISBN:

9781451832792
ISSN:

1934-7685

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