Romania: Request for a Stand-By Arrangement

International Monetary Fund

No 2001/204, IMF Staff Country Reports from International Monetary Fund

Abstract: Romania showed progress in stabilization and reform, facilitated by substantial fiscal and external adjustments, under the Stand-By Arrangement. Executive Directors commended these developments, and emphasized the need to improve fiscal and monetary policies, and accelerate structural reforms. Directors appreciated the authorities' commitment to accelerate European Union accession, and stressed the need for fiscal consolidation, financial discipline in state-owned enterprises, and rapid privatization for reducing inflation and protecting external sustainability. They urged the authorities for the full implementation of the economic program, and approved a Stand-By Arrangement.

Keywords: ISCR; CR; government; disinflation strategy; end-December performance criteria; stand-by credit; electricity distribution sector; privatization project; privatization program; Privatization; Energy sector; Public enterprises; Current account deficits; Monetary base; Global; Central and Eastern Europe; Eastern Europe (search for similar items in EconPapers)
Pages: 91
Date: 2001-11-12
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