LEADER 06572oam 22013814 450 001 9910791022603321 005 20230803023424.0 010 $a1-4843-3497-3 010 $a1-4755-6147-4 010 $a1-4755-5588-1 035 $a(CKB)2550000001320133 035 $a(EBL)1715648 035 $a(OCoLC)881607333 035 $a(SSID)ssj0001322073 035 $a(PQKBManifestationID)11717808 035 $a(PQKBTitleCode)TC0001322073 035 $a(PQKBWorkID)11425032 035 $a(PQKB)10366093 035 $a(MiAaPQ)EBC1715648 035 $a(Au-PeEL)EBL1715648 035 $a(CaPaEBR)ebr10887200 035 $a(CaONFJC)MIL620170 035 $a(IMF)1ROUEE2013001 035 $a(IMF)1ROUEA2013001 035 $a(EXLCZ)992550000001320133 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRomania : $eRomania?Seventh and Eighth Reviews Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (103 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4755-4165-1 311 $a1-306-88919-7 327 $a""Cover""; ""CONTENTS""; ""INTRODUCTION""; ""RECENT DEVELOPMENTS""; ""OUTLOOK AND RISKS""; ""PROGRAM POLICIES""; ""A. Fiscal Policy: Better Fiscal Institutions and Public Financial Management""; ""B. Structural Reforms: Enhancing growth prospects""; ""C. Financial Sector Priorities: Dealing with NPLs and Contingency Planning""; ""D. Monetary and Exchange Rate Policies: Anchoring Expectations""; ""PROGRAM MODALITIES AND OTHER ISSUES""; ""STAFF APPRAISAL""; ""BOXES""; ""1. Major Measures Under the SBA, 2011-13""; ""2. Measures to Reduce Arrears""; ""3. State-Owned Enterprise Arrears"" 327 $a""FIGURES""""1. Real Sector, 2007-13""; ""2. External Sector 2007-13""; ""3. Labor Sector, 2007-13""; ""4. Monetary Sector, 2007-13""; ""5. Fiscal Operations, 2005-13""; ""6. Financial Sector, 2007-13""; ""7. Financial Development, 2007-13""; ""8. Public Debt Sustainability: Bound Tests""; ""9. External Debt Sustainability: Bound Tests""; ""TABLES""; ""1. Quantitative Program Targets""; ""2. Performance for Seventh and Eighth Reviews""; ""3. Selected Economic and Social Indicators, 2009-14""; ""4. Macroeconomic Framework, Current Policies, 2009-18"" 327 $a""5. Balance of Payments, 2009-18""""6. Gross Financing Requirements, 2010-14""; ""7. General Government Operations, 2009-14""; ""8. Monetary Survey, 2009-14""; ""9. Financial Soundness Indicators, 2008-13""; ""10. Schedule of Reviews and Purchases""; ""11. Indicators of Fund Credit, 2013-18""; ""12. Public Sector Debt Sustainability Framework, 2008-18""; ""13. External Debt Sustainability Framework, 2008-18""; ""APPENDIX""; ""I. Letter of Intent""; ""ATTACHMENTS""; ""I. Memorandum of Economic and Financial Policies""; ""II. Technical Memorandum of Understanding"" 330 3 $aThis paper discusses Romania?s Seventh and Eighth Reviews Under the Stand-by Arrangement and Request for Waiver of Nonobservance of Performance Criteria. Continued strong fiscal consolidation would enable Romania to exit the EU Excessive Deficit Procedure by mid-2013; prudent monetary policy kept core inflation low, and close supervision buttressed banking sector stability. Fiscal and international reserves buffers and a well-capitalized banking sector provide a cushion against shocks. Market sentiment toward Romania improved as political uncertainty subsided in the aftermath of the December 2012 parliamentary elections, which the ruling coalition won. Structural reforms, however, advanced slowly, and the recovery has lagged behind that in most other European emerging economies. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2013/204 606 $aEconomic development$zRomania 606 $aFiscal policy$zRomania 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aFiscal Policy$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aBanking$2imf 606 $aPublic ownership$2imf 606 $anationalization$2imf 606 $aArrears$2imf 606 $aPublic debt$2imf 606 $aExternal debt$2imf 606 $aPrices$2imf 606 $aFiscal stance$2imf 606 $aFiscal policy$2imf 606 $aDebts, External$2imf 606 $aDebts, Public$2imf 606 $aBanks and banking$2imf 606 $aInterest rates$2imf 607 $aRomania$2imf 615 0$aEconomic development 615 0$aFiscal policy 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aInflation 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aInternational Lending and Debt Problems 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aPrice Level 615 7$aDeflation 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aFiscal Policy 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aBanking 615 7$aPublic ownership 615 7$anationalization 615 7$aArrears 615 7$aPublic debt 615 7$aExternal debt 615 7$aPrices 615 7$aFiscal stance 615 7$aFiscal policy 615 7$aDebts, External 615 7$aDebts, Public 615 7$aBanks and banking 615 7$aInterest rates 676 $a332.152 801 0$bDcWaIMF 906 $aBOOK 912 $a9910791022603321 996 $aRomania$9298891 997 $aUNINA