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.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

European Department, author.

Contributor:

European Department, author.

Series:

IMF Staff Country Reports; Country Report ; No. 2011/080

IMF Staff Country Reports

Language:

English

Subjects (All):

Debts, Public--Romania.

Debts, Public.

Romania--Economic conditions.

Romania.

Romania--Economic policy.

Physical Description:

1 online resource (104 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2011.

Language Note:

English

Summary:

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.

Contents:

Cover; Contents; I. Introduction and Summary; II. Recent Developments; III. Performance Under the Current Program; Boxes; 1. Major Measures Under the SBA, 2009-11; IV. Elements of the New Program; A. Overall Program Objectives; B. Macroeconomic Framework and Risks; C. Fiscal Policies; D. Structural Reforms; 2. State-Owned Enterprises in Romania: Taking Stock; E. Financial Sector Policies; F. Monetary and Exchange Rate Policies; V. Program Modalities; A. Access; B. Capacity to Repay the Fund and Risks to the Program; C. Program Monitoring and Conditionality; 3. Exceptional Access Criteria

VI. Staff Appraisal4. The New Stand-By Arrangement; Figures; 1. Recent Economic Trends; 2. Financial Developments; 3. Public Debt Sustainability: Bound Tests; 4. External Debt Sustainability: Bound Test; Tables; 1. Quantitative Program Targets for Seventh Review; 2. Performance for Seventh Review; 3. Quantitative Program Targets for New Program; 4. Conditionality for New Program; 5. Selected Economic and Social Indicators, 2007-12; 6. Macroeconomic Framework, Current Policies, 2008-16; 7. Balance of Payments, 2008-16; 8. Gross Financing Requirements, 2010-12

9. General Government Operations, 2008-1210. Monetary Survey, 2009-12; 11. Financial Soundness Indicators, 2008-10; 12a. Schedule of Reviews and Purchases; 12b. Schedule of Reviews and Purchases; 13. Indicators of Fund Credit, 2011-16; 14. Public Sector Debt Sustainability Framework, 2006-16; 15. External Debt Sustainability Framework, 2006-16; Appendices; I. Letter of Intent; II. Technical Memorandum of Understanding

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014).

ISBN:

9786613864697

9781455265367

1455265365

9781455247202

1455247200

9781283552240

1283552248

9781455230068

1455230065