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.

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.

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Year of publication:	2010-02-24
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Announcements \| Bank restructuring \| Banking sector \| Economic growth \| Economic indicators \| Fiscal reforms \| Inflation targeting \| Performance criteria waivers \| Phasing of purchases \| Reserves accumulation \| Staff Reports \| Stand-by arrangement reviews \| public debt \| external debt \| current account \| fiscal responsibility \| public finance \| fiscal responsibility law \| central bank \| external financing \| fiscal balance \| tax administration \| debt sustainability \| balance of payments \| fiscal policy \| government deficit \| short-term debt \| fiscal deficit \| current account balance \| government debt \| debt service \| external debt sustainability \| current account deficit \| domestic currency \| fiscal adjustment \| debt stock \| structural fiscal \| long-term debt \| fiscal measures \| budget deficit \| fiscal policies \| fiscal risks \| balance of payment \| external payments \| repayments \| private external debt \| state budget \| tax increases \| long-term ? loans \| public finances \| public sector debt \| capital expenditure \| debt dynamics \| fiscal sustainability \| fiscal position \| central banks \| budget execution data \| fiscal policy response \| government revenue \| interest expenditure \| payment arrears \| fiscal discipline \| reserve assets \| fiscal deficits \| repurchases \| external shocks \| fiscal aggregates \| fiscal strategy \| official creditors \| spending cuts \| fiscal consolidation \| fiscal issues \| central government budget \| fiscal stability \| fiscal adjustments \| current account adjustment \| total external debt \| fiscal objectives \| debt ratio \| fiscal deficit target \| external obligations \| primary expenditure \| fiscal council \| public debt management \| expenditure cuts \| capital expenditures \| tax collections \| external disbursements \| budget support \| fiscal assumptions \| government budget \| fiscal performance \| fiscal program \| debt management

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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 10/49 5 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011245755