Romania: Ex-Post Assessment of Longer-Term Program Engagement

International Monetary Fund

No 2004/113, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews the experience of the IMF’s long-term engagement in Romania and options for future IMF involvement. The unfavorable growth performance also reflected adverse conditions for private sector development. Foreign investors have welcomed the more stable macroeconomic environment and the tax legislation overhaul under the recent Stand-By Arrangement. Although the overlap between Bank and IMF conditionality in the area of structural reforms was not conducive to reducing the number of conditions, it helped increase the pressure on the authorities to maintain the reform momentum.

Keywords: ISCR; CR; Fund; authority; government; policy; program engagement; Fund engagement; IMF reviews Romania's performance; policy implementation; credit growth; program support; Fund's strategy; Structural reforms; Privatization; Energy sector; Current account deficits; Inflation; Global (search for similar items in EconPapers)
Pages: 39
Date: 2004-04-23
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