Romania: Recent Economic Developments

International Monetary Fund

No 1997/046, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Romania during 1990–97. Reforms have been relatively slow since the beginning of the transition process. Except for a brief and inconsequential interlude in 1993, comprehensive programs for privatization and for restructuring or liquidation of loss-making enterprises were not launched until 1995. These programs have done little to improve governance so far. As of end-1996, the economy was still largely characterized by state ownership and control; by fixed prices and quantitative constraints; and by ailing enterprises and subsidization of losses.

Keywords: ISCR; CR; exchange rate; foreign currency; U.S. dollar; interbank market; balance of payments; foreign exchange market; monetary policy; private sector; savings bank; Agricultural sector; Credit; Exports; Currencies; Eastern Europe; Central and Eastern Europe (search for similar items in EconPapers)
Pages: 143
Date: 1997-07-16
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