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|z 9781475502619
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|a 1934-7685
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Romania :
|b Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (32 pages)
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|a IMF Staff Country Reports
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper discusses ex-post evaluation of Romania's exceptional access under the 2009 Stand-By Arrangement. Concerns about Romania's external and fiscal sustainability have triggered significant increase in external borrowing costs as sovereign yields jumped to 9 percent. Banks also came under increasing pressure, with liquidity drying up from the interbank market. Rollover risks also increased as the maturity structure gradually deteriorated, and reserves coverage of shorter-term external debt declined. The large and front-loaded financing along with upfront fiscal actions has helped quickly to restore market confidence, with a successful return to private financial markets during the program period.
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|a Mode of access: Internet
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|a IMF Staff Country Reports; Country Report ;
|v No. 2012/064
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/002/2012/064/002.2012.issue-064-en.xml
|z IMF e-Library
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