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Romania : request for a stand-by arrangement.International Monetary Fund.

International Monetary Fund. European Department.

Washington, D.C. : International Monetary Fund, European Dept. [2013]

Online access

  • Title:
    Romania : request for a stand-by arrangement.International Monetary Fund.
  • Author: International Monetary Fund. European Department.
  • Publisher: Washington, D.C. : International Monetary Fund, European Dept.
  • Creation Date: [2013]
  • Language: English
  • Physical Description: 1 online resource (116 p.).
  • Bibliography: Includes bibliographical references.
  • Subjects: Banks and banking -- Romania; Debt -- Romania
  • Description: Stand-by Arrangement: Romania successfully completed in June 2013 a 27-monthStand-By Arrangement (SBA), including a three-month extension, equivalent toSDR 3,090.6 million (?3.4 billion, 300 percent of quota). The authorities have requesteda successor 24-month SBA with proposed access of SDR 1,751.34 million (about?2 billion, 170 percent of quota). The first tranche of SDR 194.7 million would be madeavailable upon program approval. The authorities intend to treat the SBA asprecautionary and have also requested support from the European Union (?2 billion),while ?1 billion remains available u
  • Notes: Includes bibliographical references.
  • Contents: Cover; CONTENTS; INTRODUCTION; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; PROGRAM POLICIES; A. Fiscal Policy: Strengthening the Institutional Framework; B. Structural Reforms: Increasing Investment and Growth; C. Financial Sector Priorities: Dealing with NPLs and Contingency Planning; D. Monetary and Exchange Rate Policies: Anchoring Expectations; PROGRAM MODALITIES; A. Access and Phasing; B. Program Conditionality and Monitoring; C. Capacity to Repay the Fund and Risks to the Program; STAFF APPRAISAL; BOXES; 1. Romania 2009-11 and 2011-13 Stand-By Arrangements
    2. What is Holding Back Credit Growth in Romania?3. Program Objectives, Policy Areas and Key Measures; 4. Initial Public Offerings; 5. Exceptional Access Criteria; TABLES; 1. Quantitative Program Targets; 2. Proposed Conditionality; 3. Selected Economic Indicators, 2009-14; 4. Medium-Term Macroeconomic Framework, Current Policies, 2009-18; 5. Balance of Payments, 2009-15; 6. Gross Financing Requirements, 2012-15; 7. General Government Operations, 2009-15; 8. Monetary Survey, 2009-14; 9. Financial Soundness Indicators, 2008-13; 10. Schedule of Reviews and Purchases
    11. Indicators of Fund Credit, 2013-1812. Public Sector Debt Sustainability Framework, 2008-18; 13. External Debt Sustainability Framework, 2008-18; FIGURES; 1. Real Sector, 2007-13; 2. External Sector, 2007-13; 3. Labor Market, 2007-13; 4. Monetary Sector, 2007-13; 5. Fiscal Operations, 2007-13; 6. Financial Sector, 2007-13; 7. Financial Developments, 2011-13; 8. Public Debt Sustainability: Bound Tests; 9. External Debt Sustainability: Bound Tests; APPENDIX; I. Letter of Intent; Attachments; I. Memorandum of Economic and Financial Policies; II. Technical Memorandum of Understanding; CONTENTS
    INTRODUCTIONBACKGROUND; TABLES; 1. Proposed SBA-Access and Phasing; 2. IMF Financial Arrangements, 1991-2020; 3. Total External Debt, 2007-2012; FIGURES; 1. Debt Ratios for Recent Exceptional Access Arrangements; THE NEW STAND-BY ARRANGEMENT-RISKS AND IMPACT ON FUND'S FINANCES; A. Risks to the Fund; 2. Exceptional Access Levels and Credit Concentration; 3. Fund Credit Outstanding in the GRA around Projected Peak Borrowing; 4. Peak Fund Exposure and Debt Service Ratios for Recent Exceptional Access Cases; 4. Romania-Capacity to Repay Indicators
    B. Impact on the Fund's Liquidity Position and Risk ExposureASSESSMENT; 5. SBA for Romania-Impact on GRA Finances
  • Identifier: ISBN1-4843-1482-4;ISBN1-4843-9352-X;ISBN1-61635-442-9