Romania: Request for Stand-By Arrangement: Staff Report; Staff Supplements; and Press Release on the Executive Board Discussion

International Monetary Fund

No 2009/183, IMF Staff Country Reports from International Monetary Fund

Abstract: Romania’s GDP growth averaged more than 6½ percent per year from 2003 to 2008, as foreign direct investment and capital inflows helped finance high consumption and investment growth. The staff report for Romania’s request for a Stand-By Arrangement is also elaborated. Robust export growth to EU countries reflected the process of increasing economic integration with western European economies. The rapid increase in borrowing that fueled the boom left Romania highly exposed to global financial difficulties and to exchange rate volatility.

Keywords: ISCR; CR; Romania; helping ease bank lending; financial support; financing gap; lending; interbank market rate; financial support package; capital injection; Debt service; Commercial banks; Exchange rates; Global; Eastern Europe (search for similar items in EconPapers)
Pages: 85
Date: 2009-06-10
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Citations: View citations in EconPapers (3)

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