Romania: Request for a Stand-By Arrangement

International Monetary Fund

No 2013/307, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Romania’s Request for a Stand-By Arrangement (SBA). Since the 2008 global financial crisis, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers. However, Romania remains vulnerable to external shocks, in particular uncertainties in the euro area as well as global volatility in capital flows to emerging markets. The new SBA would provide a valuable policy anchor and support Romania’s comprehensive economic program for 2013–2015 to maintain sound macroeconomic policies and financial sector stability and continue structural reforms to enhance growth prospects. The IMF staff supports the authorities’ request for a new SBA.

Keywords: ISCR; CR; government; Romania; debt; fund; government ordinance; reform agenda; balance sheet repair; growth-enhancing reform; freight railway company; Credit; Fiscal stance; Debt service; Global (search for similar items in EconPapers)
Pages: 112
Date: 2013-10-04
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