IMF Staff Country Reports

Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion

Publication Date:

June 10, 2009

Electronic Access:

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Summary:

Romania’s GDP growth averaged more than 6½ percent per year from 2003 to 2008, as foreign direct investment and capital inflows helped finance high consumption and investment growth. The staff report for Romania’s request for a Stand-By Arrangement is also elaborated. Robust export growth to EU countries reflected the process of 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.

Series:

Country Report No. 2009/183

Subject:

Banking Commercial banks Credit Debt service Exchange rates External debt Financial institutions Foreign exchange Public debt