Romania: Third Review Under the Stand-By Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania.

January 23, 2012

Preview Citation

Format: Chicago

Romania: Third Review Under the Stand-By Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania., (USA: International Monetary Fund, 2012) accessed November 22, 2024

Summary

This paper discusses key findings of the Third Review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The authorities are on track to achieve their 2011–12 deficit targets, but stepped-up efforts are needed on key structural reforms. Inflation has dropped sharply, reflecting food prices deflation and the removal of the VAT base effect. All end-September quantitative performance criteria and indicative targets were met, and inflation returned to the inner band of the inflation consultation mechanism.

Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt

Keywords: Arrears, Bond issue, Copayment, Copayment law, CR, Europe, Executive board's discussion, Fiscal stance, Global, Inflation, ISCR, Legislation, Policy implementation, Risks in the banking system, Securitizing SOE arrears, Target, Western Europe

Publication Details

Pages:

91
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/011
Stock No:

1ROUEA2012001
ISBN:

9781463932510
ISSN:

1934-7685

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