This paper presents Romania’s First Review Under the Stand-By Arrangement and a Request for Waiver and Modification of Performance Criteria. Output growth remains favorable and disinflation is proceeding. The current account deficit is in line with the program’s target, and the balance of...

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 131⁄2 percent of GDP in 2007 to about 41⁄4 percent of GDP in...

This report assesses the Observance of Standards and Codes on Fiscal Transparency for Romania. Romania has made progress in improving fiscal transparency. Over the last few years, the pace of reforms in this area and in strengthening the management of public finances has intensified, with the...

This Selected Issues paper analyzes the developments and determinants of inflation in Romania, and reviews the salient trends in public finance. The study describes the monetary policy issues and the improvements required to clean up the financial sector. The paper chronicles the...

This paper discusses Romania’s fourth review under the Stand-By Arrangement and request for modification of performance criteria. The authorities are treating the arrangement as precautionary. Additional funds under the program are provided by the European Union. The economy grew by 2.5...