Romania: First Review Under the Stand-By Arrangement and Request for Waiver and Modification of Performance Criteria

International Monetary Fund

No 2004/319, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Romania’s First Review Under the Stand-By Arrangement and a Request for Waiver and Modification of Performance Criteria. Output growth remains favorable and disinflation is proceeding. The current account deficit is in line with the program’s target, and the balance of payments is strengthening. Credit growth in general has slowed, but its foreign currency denominated component has picked up again. Net wage growth remains high, fueling consumption, but labor costs are not deviating substantially from productivity growth.

Keywords: ISCR; CR; government; state budget; CPI inflation rate; IMF's executive board; social security fund; staff assessment; Credit; Budget planning and preparation; Current account deficits; Currencies; Global (search for similar items in EconPapers)
Pages: 70
Date: 2004-10-12
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