Romania: Seventh and Eighth Reviews Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania

 
 
Publication Date: July 16, 2013
 
Electronic Access: Free Full text (PDF file size is 2,376KB).
Use the free Adobe Acrobat Reader to view this PDF file

 
Summary: This paper discusses Romania’s Seventh and Eighth Reviews Under the Stand-by Arrangement and Request for Waiver of Nonobservance of Performance Criteria. Continued strong fiscal consolidation would enable Romania to exit the EU Excessive Deficit Procedure by mid-2013; prudent monetary policy kept core inflation low, and close supervision buttressed banking sector stability. Fiscal and international reserves buffers and a well-capitalized banking sector provide a cushion against shocks. Market sentiment toward Romania improved as political uncertainty subsided in the aftermath of the December 2012 parliamentary elections, which the ruling coalition won. Structural reforms, however, advanced slowly, and the recovery has lagged behind that in most other European emerging economies.
 
Series: Country Report No. 13/204
Subject(s): Stand-by arrangement reviews | Fiscal policy | Fiscal consolidation | Unemployment | Public enterprises | Fiscal reforms | Infrastructure | Banking sector | Monetary policy | Economic indicators | Staff Reports | Press releases | Romania

 
English
Publication Date: July 16, 2013
ISBN/ISSN: 9781475541656/1934-7685 Format: Paper
Stock No: 1ROUEA2013001 Pages: 101
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
Please address any questions about this title to publications@imf.org