Romania: Selected Issues and Statistical Appendix

International Monetary Fund

No 2004/220, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long periods of time have little incentive to reduce arrears. The state contributed to growth of arrears by accepting nonmonetary tax and utility payments, using tax offsets in procurement, and tolerating payment arrears. These practices have been prevalent at all levels of state and local government, as well as state utility companies.

Keywords: ISCR; CR; interest rate; rate; producer price inflation; interest rate pass-through; market rate; utility company arrears; impulse response; inflation expectation; B. inflation dynamics; Slovak coefficient; Inflation; Central bank policy rate; Arrears; Producer prices; Exchange rates; Africa; Central and Eastern Europe; Baltics (search for similar items in EconPapers)
Pages: 98
Date: 2004-07-26
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Citations: View citations in EconPapers (2)

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