Romania: Seventh Review Under the Stand-By Arrangement Cancellation of Current Stand-By Arrangement and Request for a New Stand-By Arrangement-Staff Report; Supplement on the Assessment of the Risks to the Fund and the Fund's Liquidity Position; Supplementary Information; Press Release on the Executive Board Discussion; Statement by the Executive Director and the Senior Advisor to the Executive Director for Romania
April 1, 2011
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
Romania’s external position continues to improve. Inflation peaked in December 2010, and is now likely to decline. Financial market stress has remained relatively low in recent months. The current account deficit improved from 13½ percent of GDP in 2007 to about 4¼ percent of GDP in 2010, driven by a strong shrinking trade deficit. Significant progress has been made under the Stand-By Arrangement (SBA) in achieving fiscal consolidation and safeguarding the financial sector. Most performance criteria and structural benchmarks were met throughout the program.
Subject: External debt, Money, Public debt
Keywords: Arrears, benefits reform, CR, Credit, Debt service, disbursement of SDR, Europe, Executive Board's discussion, February inflation, government, inflation risk, ISCR, Romania, Stand-By Arrangement, Western Europe
Pages:
101
Volume:
2011
DOI:
Issue:
080
Series:
Country Report No. 2011/080
Stock No:
1ROUEA2011003
ISBN:
9781455230075
ISSN:
1934-7685
