Romania: Third Review Under the Stand-By Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania

International Monetary Fund

No 2012/011, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Third Review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The authorities are on track to achieve their 2011–12 deficit targets, but stepped-up efforts are needed on key structural reforms. Inflation has dropped sharply, reflecting food prices deflation and the removal of the VAT base effect. All end-September quantitative performance criteria and indicative targets were met, and inflation returned to the inner band of the inflation consultation mechanism.

Keywords: ISCR; CR; Policy implementation; risks in the banking system; securitizing SOE arrears; target; copayment; legislation; executive board's discussion; copayment law; bond issue; Arrears; Inflation; Fiscal stance; Europe; Western Europe; Global (search for similar items in EconPapers)
Pages: 91
Date: 2012-01-23
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