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

Romaniaâ€™s GDP growth averaged more than 6Â½ 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 Romaniaâ€™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.

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Year of publication:	2009-06-10
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Announcements \| Banking sector \| Central bank policy \| Economic growth \| Economic indicators \| External shocks \| Financial sector \| Governance \| Staff Reports \| Stand-by arrangement requests \| capital inflows \| external debt \| capital adequacy \| current account \| current account deficit \| subsidiaries \| balance of payments \| capital adequacy ratio \| public debt \| external financing \| current account balance \| debt stock \| capital spending \| capital outflows \| debt sustainability \| real effective exchange rate \| share capital \| short-term debt \| central bank \| balance of payment \| capital markets \| public sector debt \| public finances \| investor confidence \| government deficit \| domestic credit \| external borrowing \| external debt sustainability \| public finance \| domestic currency \| total external debt \| current account deficits \| long-term debt \| consumer price index \| external obligations \| domestic financial markets \| stock market \| official creditors \| long-term loans \| access to capital markets \| debt ratio \| government debt \| access to private capital markets \| private capital \| private capital markets \| debt service \| external payments \| capital flows \| government securities \| debt dynamics \| private capital inflows \| capital increases \| balance sheet effects \| stock market capitalization \| currency mismatch \| reserve assets \| credit expansion \| private sector indebtedness \| equity prices \| capital ratio \| private credit \| private sector creditors \| international security \| repurchases \| floating exchange rate regime \| total debt stock \| risk aversion \| capital transfer \| indexation \| credit rating \| inflation rate \| stock exchange \| external finance \| capital revenue \| securities market \| strong capital inflows \| massive capital inflows \| deficit financing \| capital needs \| corporate loans \| external debt stock \| external liabilities \| public external debt \| gross domestic product \| external funding \| external disbursements \| capital expenditures

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 09/183 8 pages long
Source:	RePEc - Research Papers in Economics

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