Romania: First Review under the Stand-By Arrangement and Request for Modification of Performance Criteria—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania

International Monetary Fund

No 2011/158, IMF Staff Country Reports from International Monetary Fund

Abstract: Romania’s economy has stabilized and growth is now resuming. The financial program’s objectives include structural reforms in the energy and transport sectors, and restructuring and privatization of state-owned enterprises (SOEs). The macroeconomic outlook is expected to improve in 2011–12 with a gradual pickup in growth, a stable current account, and inflationary pressures that are still high but will begin to recede after mid-2011. The authorities are also focusing on reducing the arrears of the rest of the public sector.

Keywords: ISCR; CR; consumer sentiment indicator; precautionary Stand-By Arrangement; government ordinance; government; disbursement of SDR; executive board's discussion; securitizing SOE arrears; Arrears; Inflation; Fiscal stance; Europe; Western Europe; Global (search for similar items in EconPapers)
Pages: 80
Date: 2011-06-29
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