European Parliament Library

Romania :, Ex Post Evaluation of Exceptional Access Under the 2011 Stand-By Arrangement

This 2004 Article IV Consultation on Romania highlights commendable progress under its home-grown IMF-supported program. Economic activity is picking up after a four-year slump, inflation remains low, the financial sector is stable, and the fiscal and external positions are improving. The 2014 budget aims to protect the gains under the program, continue the downward debt-to-GDP trajectory, and advance the reform agenda. Debt has fallen considerably owing to completion of a large part of the debt-land swap, but remains high. The authorities have taken welcome steps to strengthen the nonbank financial institutions supervisory framework
Table Of Contents
Cover; CONTENTS; INTRODUCTION; WHY DID ROMANIA REQUEST A SUCCESSOR FUND ARRANGEMENT?; WAS PROGRAM DESIGN APPROPRIATE?; A. Program Objectives and Design; B. Was The Financing Package Adequate?; C. Were The Exceptional Access Criteria Met?; D. Was Program Conditionality Correctly Focused?; DID THE PROGRAM ACHIEVE ITS OBJECTIVES?; A. Macroeconomic Developments; B. Fiscal Policy; C. Structural Reforms; D. Financial Sector; E. Monetary And Exchange Rate Policy; THE NEW STAND-BY ARRANGEMENT; CONCLUSIONS AND LESSONS; TABLES; 1. Structural Conditionality and Prior Actions Under the 2011 SBA
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (38 p.)
Specific Material Designation
Form Of Item

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