Romania: Second and Third Reviews under the Stand-By Arrangement, Request Rephasing and Waiver of Nonobservance of Performance Criterion; Statement by the IMF Staff Representative; and Press Release on the Executive Board Discussion.
February 24, 2010
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This paper discusses key findings of the Second and Third Reviews under the Stand-By Arrangement for Romania. Most end-December 2009 quantitative performance criteria were met. The ceiling on the accumulation of domestic arrears at end-September was missed, and preliminary data suggest the end-December target was also missed. The end-2009 inflation rate was slightly higher than the central bank target, but remained well within the inner band of the inflation consultation mechanism. The authorities have agreed to reschedule the benchmark for end-June 2010. IMF staff supports the waiver requested by the authorities.
Subject: Balance of payments, Banking, Current account, Expenditure, External debt, Fiscal stance, Inflation, Prices, Public debt
Keywords: consumer spending indicator, CR, Current account, deficit target, dynamics annual, Global, Inflation, ISCR, short term indicator, staff appraisal, staff projection, target
Pages:
55
Volume:
2010
DOI:
Issue:
049
Series:
Country Report No. 2010/049
Stock No:
1ROUEA2010002
ISBN:
9781451832945
ISSN:
1934-7685
