Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion
IMF Staff Country Reports, June 10, 2009
Source details
- Canonical URL
- Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion
Other formats
Bibliographic details
- Published: June 10, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451832914.002
Macroeconomic performance and vulnerabilities
- Romania’s GDP growth averaged more than 6½ percent per year from 2003 to 2008.
- Growth was supported by foreign direct investment and capital inflows that financed high consumption and investment growth.
- Robust export growth to EU countries reflected increasing economic integration with western European economies.
- The rapid increase in borrowing that fueled the boom left Romania highly exposed to global financial difficulties and to exchange rate volatility.
Purpose and content of the publication
- Staff report for Romania’s request for a Stand-By Arrangement is elaborated in the publication.
- Publication includes staff report, staff supplements, and the Press Release on the Executive Board Discussion.
Key subjects and keywords covered
- Subjects: Banking, Commercial banks, Credit, Debt service, Exchange rates, External debt, Financial institutions, Foreign exchange, Public debt.
- Keywords: capital injection, Commercial banks, CR, Debt service, Eastern Europe, Exchange rates, financial support, financial support package, financing gap, Global, helping ease bank lending, interbank market rate, ISCR, lending, Romania.