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Romania :, Seventh Review Under the Stand-By Arrangement Cancellation of Current Stand-By Arrangement and Request for a New Stand-By Arrangement-Staff Report; Supplement on the Assessment of the Risks to the Fund and the Fund's Liquidity Position; Supplementary Information; Press Release on the Executive Board Discussion; Statement by the Executive Director and the Senior Advisor to the Executive Director for Romania

Romania’s external position continues to improve. Inflation peaked in December 2010, and is now likely to decline. Financial market stress has remained relatively low in recent months. The current account deficit improved from 13½ percent of GDP in 2007 to about 4¼ percent of GDP in 2010, driven by a strong shrinking trade deficit. Significant progress has been made under the Stand-By Arrangement (SBA) in achieving fiscal consolidation and safeguarding the financial sector. Most performance criteria and structural benchmarks were met throughout the program
Table Of Contents
Cover; Contents; I. Introduction and Summary; II. Recent Developments; III. Performance Under the Current Program; Boxes; 1. Major Measures Under the SBA, 2009-11; IV. Elements of the New Program; A. Overall Program Objectives; B. Macroeconomic Framework and Risks; C. Fiscal Policies; D. Structural Reforms; 2. State-Owned Enterprises in Romania: Taking Stock; E. Financial Sector Policies; F. Monetary and Exchange Rate Policies; V. Program Modalities; A. Access; B. Capacity to Repay the Fund and Risks to the Program; C. Program Monitoring and Conditionality; 3. Exceptional Access Criteria
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (104 p.)
Specific Material Designation
Form Of Item

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