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IMF Executive Board Concludes Article IV Consultation with Romania

IMF Executive Board Concludes Article IV Consultation with Romania »

Source: Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Romania
			: 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania »

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

DOI: http://dx.doi.org/10.5089/9781513512341.002

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Romania: 2019 Article IV Consultation—Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Romania: 2019 Article IV Consultation—Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania »

Source: Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Romania: 2019 Article IV Consultation—Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Romania: 2019 Article IV Consultation—Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania »

Source: Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Romania: Staff Report for the 2019 Article IV Consultation—Supplementary Information

Romania: Staff Report for the 2019 Article IV Consultation—Supplementary Information »

Source: Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Statement by Mr. Anthony de Lannoy, Executive Director for Romania, Mr. Liviu Voinea Senior Advisor to the Executive Director and Mr. Mugur Dragos Tolici Senior Advisor to the Executive Director August 28, 2019

Statement by Mr. Anthony de Lannoy, Executive Director for Romania, Mr. Liviu Voinea Senior Advisor to the Executive Director and Mr. Mugur Dragos Tolici Senior Advisor to the Executive Director August 28, 2019 »

Source: Romania : 2019 Article IV Consultation-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Romania

Volume/Issue: 2019/278

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513512341

Keywords: Economic indicators, Central banks, Financial and Monetary Sector, Balance of payments, Monetary policy, ISCR, CR, NBR, Proj, account deficit

This 2019 Article IV Consultation with Romania discusses that growth in 2019 is expected to stay above potential at 4 percent, led by continued fiscal stimulus and strong wage growth, and be accompanied by further...

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data1

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data1 »

Source: Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data

Volume/Issue: 2019/182

Series: IMF Working Papers

Author(s): Erlend Nier , Radu Popa , Maral Shamloo , and Liviu Voinea

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2019

ISBN: 9781513509099

Keywords: Interest rates on loans, Interest rates, Financial crises, Financial institutions, Macroprudential policies and financial stability, Macroprudential policy, Household credit, Romania, WP, consumer loan

We provide empirical evidence to support the calibration of a limit on household indebtedness levels, in the form of a cap on the debt-service-to-income (DSTI) ratio, in order to reduce the probability of borrower...

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data »

Volume/Issue: 2019/182

Series: IMF Working Papers

Author(s): Erlend Nier , Radu Popa , Maral Shamloo , and Liviu Voinea

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2019

DOI: http://dx.doi.org/10.5089/9781513509099.001

ISBN: 9781513509099

Keywords: Interest rates on loans, Interest rates, Financial crises, Financial institutions, Macroprudential policies and financial stability, Macroprudential policy, Household credit, Romania, WP, consumer loan

We provide empirical evidence to support the calibration of a limit on household indebtedness levels, in the form of a cap on the debt-service-to-income (DSTI) ratio, in order to reduce the probability of borrower...

1. Domestic Expansion Running into External Turbulence

1. Domestic Expansion Running into External Turbulence »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Activity continued to expand in the first half of 2018, but at a slower-than-expected pace, mainly in advanced Europe. The external environment has become less supportive, with slow...

Executive Summary

Executive Summary »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment...

2. Macroprudential Policies and House Prices in Europe: An Overview of Recent Experiences

2. Macroprudential Policies and House Prices in Europe: An Overview of Recent Experiences »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

This chapter documents the increasing use of macroprudential policies (MaPPs) in Europe in recent years to build financial resilience, contain general and sectoral credit growth, an...

Regional Economic Outlook, October 2018, Europe
			: Domestic Expansion Running into External Turbulence

Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

DOI: http://dx.doi.org/10.5089/9781484375402.086

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment and wages, remains the main engin...

Front Matter

Front Matter »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment and wages, remains the main engin...

Romania
			: Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

Romania : Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision »

Volume/Issue: 2018/252

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 June 2018

DOI: http://dx.doi.org/10.5089/9781484361962.002

ISBN: 9781484361962

Keywords: Financial Sector Assessment Program, Basel Core Principles, Bank supervision, Financial stability, Prudential bank regulations

This paper discusses findings of the Detailed Assessment of Observance of the Basel Core Principles (BCP) for Effective Banking Supervision in Romania. The supervisory approach of the National Bank of Romania (NBR)...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

Volume/Issue: 2018/252

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 June 2018

ISBN: 9781484361962

Keywords: Financial Sector Assessment Program, Basel Core Principles, Bank supervision, Financial stability, Prudential bank regulations

This paper discusses findings of the Detailed Assessment of Observance of the Basel Core Principles (BCP) for Effective Banking Supervision in Romania. The supervisory approach of the National Bank of Romania (NBR)...

Romania
			: Financial Sector Assessment Program

Romania : Financial Sector Assessment Program »

Volume/Issue: 2018/160

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360446.002

ISBN: 9781484360446

Keywords: Financial Sector Assessment Program, Financial system stability assessment, Systemic risk, Financial sector, Macroprudential policies and financial stability, Banking supervision, Financial markets, Anti-money laundering, Combating the financing of terrorism, Financial safety nets

This paper assesses the stability of the Romania's financial system. Romania's financial sector has strengthened significantly over the last few years. Effective supervisory measures have helped reduce the high lev...

Romania
			: Financial Sector Assessment Program-Technical Note-Balance Sheet Analysis

Romania : Financial Sector Assessment Program-Technical Note-Balance Sheet Analysis »

Volume/Issue: 2018/162

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360699.002

ISBN: 9781484360699

Keywords: Financial Sector Assessment Program, Balance sheets, Financial sector, Foreign exchange, Borrowing

This Technical Note analyzes the macro-financial interlinkages, sectoral dependencies, and potential balance sheet vulnerabilities for all resident sectors in Romania. The financial sector size and interconnectedne...

Romania
			: Financial Sector Assessment Program-Technical Note-Crisis Preparedness and Safety Net

Romania : Financial Sector Assessment Program-Technical Note-Crisis Preparedness and Safety Net »

Volume/Issue: 2018/165

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360743.002

ISBN: 9781484360743

Keywords: Financial Sector Assessment Program, Crisis management, Bank resolution, Deposit insurance, Liquidity, Financial safety nets

This Technical Note assesses the state of crisis preparedness and safety net in Romania. The bank resolution and crisis management toolkit has been significantly revamped since the last Financial Sector Assessment...

Romania
			: Financial Sector Assessment Program-Technical Note-Macroprudential Policy Framework and Tools

Romania : Financial Sector Assessment Program-Technical Note-Macroprudential Policy Framework and Tools »

Volume/Issue: 2018/164

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360736.002

ISBN: 9781484360736

Keywords: Financial Sector Assessment Program, Systemic risk assessment, Macroprudential policies and financial stability, Sovereign debt, Corporate sector

This Technical Note analyzes the implementation of macroprudential policy framework and tools in Romania. The National Bank of Romania (NBR) has a long experience in implementing macroprudential policy measures. Th...

Romania
			: Financial Sector Assessment Program-Technical Note on Calibration of a Debt-Service-to-Income Limit in Romania-Evidence from Microdata

Romania : Financial Sector Assessment Program-Technical Note on Calibration of a Debt-Service-to-Income Limit in Romania-Evidence from Microdata »

Volume/Issue: 2018/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360682.002

ISBN: 9781484360682

Keywords: Financial Sector Assessment Program, Macroprudential policies and financial stability, Debt service, Income, Household credit

This Technical Note discusses calibration of a debt-service-to-income (DSTI) limit in Romania. The recent pick-up in household credit in Romania has given rise to a need for revisiting the design of existing macrop...

Romania
			: Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing the Financial Sector

Romania : Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing the Financial Sector »

Volume/Issue: 2018/163

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

DOI: http://dx.doi.org/10.5089/9781484360729.002

ISBN: 9781484360729

Keywords: Financial Sector Assessment Program, Stress testing, Systemic risk assessment, Banking sector, Credit risk, Market risk, Liquidity, Financial contagion

This Technical Note discusses the results of systemic risk analysis and stress testing of Romania's financial sector. Although the Romanian banking sector has a strong initial capital position, banks are affected s...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing the Financial Sector

Volume/Issue: 2018/163

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360729

Keywords: Financial Sector Assessment Program, Stress testing, Systemic risk assessment, Banking sector, Credit risk, Market risk, Liquidity, Financial contagion

This Technical Note discusses the results of systemic risk analysis and stress testing of Romania's financial sector. Although the Romanian banking sector has a strong initial capital position, banks are affected s...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Technical Note on Calibration of a Debt-Service-to-Income Limit in Romania-Evidence from Microdata

Volume/Issue: 2018/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360682

Keywords: Financial Sector Assessment Program, Macroprudential policies and financial stability, Debt service, Income, Household credit

This Technical Note discusses calibration of a debt-service-to-income (DSTI) limit in Romania. The recent pick-up in household credit in Romania has given rise to a need for revisiting the design of existing macrop...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Technical Note-Crisis Preparedness and Safety Net

Volume/Issue: 2018/165

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360743

Keywords: Financial Sector Assessment Program, Crisis management, Bank resolution, Deposit insurance, Liquidity, Financial safety nets

This Technical Note assesses the state of crisis preparedness and safety net in Romania. The bank resolution and crisis management toolkit has been significantly revamped since the last Financial Sector Assessment...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Technical Note-Balance Sheet Analysis

Volume/Issue: 2018/162

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360699

Keywords: Financial Sector Assessment Program, Balance sheets, Financial sector, Foreign exchange, Borrowing

This Technical Note analyzes the macro-financial interlinkages, sectoral dependencies, and potential balance sheet vulnerabilities for all resident sectors in Romania. The financial sector size and interconnectedne...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program-Technical Note-Macroprudential Policy Framework and Tools

Volume/Issue: 2018/164

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360736

Keywords: Financial Sector Assessment Program, Systemic risk assessment, Macroprudential policies and financial stability, Sovereign debt, Corporate sector

This Technical Note analyzes the implementation of macroprudential policy framework and tools in Romania. The National Bank of Romania (NBR) has a long experience in implementing macroprudential policy measures. Th...

Romania

Romania »

Source: Romania : Financial Sector Assessment Program

Volume/Issue: 2018/160

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2018

ISBN: 9781484360446

Keywords: Financial Sector Assessment Program, Financial system stability assessment, Systemic risk, Financial sector, Macroprudential policies and financial stability, Banking supervision, Financial markets, Anti-money laundering, Combating the financing of terrorism, Financial safety nets

This paper assesses the stability of the Romania's financial system. Romania's financial sector has strengthened significantly over the last few years. Effective supervisory measures have helped reduce the high lev...

IMF Executive Board Concludes Article IV Consultation with Romania

IMF Executive Board Concludes Article IV Consultation with Romania »

Source: Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Romania
			: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania »

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

DOI: http://dx.doi.org/10.5089/9781484359495.002

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Romania
			: Selected Issues

Romania : Selected Issues »

Volume/Issue: 2018/149

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

DOI: http://dx.doi.org/10.5089/9781484359563.002

ISBN: 9781484359563

Keywords: Tax revenues, Revenue mobilization, Tax administration, Tax reforms, Tax collection, Selected issues

This Selected Issues paper reviews the level and structure of tax revenues in Romania and proposes options to improve revenue mobilization drawing from other countries' experiences. Tax revenue in Romania is low co...

Romania

Romania »

Source: Romania : Selected Issues

Volume/Issue: 2018/149

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359563

Keywords: Tax revenues, Revenue mobilization, Tax administration, Tax reforms, Tax collection, Selected issues

This Selected Issues paper reviews the level and structure of tax revenues in Romania and proposes options to improve revenue mobilization drawing from other countries' experiences. Tax revenue in Romania is low co...

Romania: Staff Report for the 2018 Article IV Consultation

Romania: Staff Report for the 2018 Article IV Consultation »

Source: Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Romania: Staff Report for the 2018 Article IV Consultation—Informational Annex

Romania: Staff Report for the 2018 Article IV Consultation—Informational Annex »

Source: Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Romania: Staff Report for the 2018 Article IV Consultation—Supplementary Information

Romania: Staff Report for the 2018 Article IV Consultation—Supplementary Information »

Source: Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director June 4, 2018

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director June 4, 2018 »

Source: Romania : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2018/148

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2018

ISBN: 9781484359495

Keywords: Article IV consultation reports, Fiscal policy, Monetary policy, Fiscal reforms, Financial sector, Tax revenues, Revenue mobilization, Social security, Economic indicators, Debt sustainability analysis

This 2018 Article IV Consultation highlights that Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and...

Household Credit, Global Financial Cycle, and Macroprudential Policies

Household Credit, Global Financial Cycle, and Macroprudential Policies »

Source: Household Credit, Global Financial Cycle, and Macroprudential Policies : Credit Register Evidence from an Emerging Country

Volume/Issue: 2018/13

Series: IMF Working Papers

Author(s): Mircea Epure , Irina Mihai , Camelia Minoiu , and José-Luis Peydró

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

ISBN: 9781484338599

Keywords: Household credit, Romania, Europe, Central banks and their policies, macroprudential policies, global financial cycle, cross-border spillovers, General

We analyze the effects of macroprudential policies on local bank credit cycles and interactions with international financial conditions. For identification, we exploit the comprehensive credit register containing a...

Household Credit, Global Financial Cycle, and Macroprudential Policies
			: Credit Register Evidence from an Emerging Country

Household Credit, Global Financial Cycle, and Macroprudential Policies : Credit Register Evidence from an Emerging Country »

Volume/Issue: 2018/13

Series: IMF Working Papers

Author(s): Mircea Epure , Irina Mihai , Camelia Minoiu , and José-Luis Peydró

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2018

DOI: http://dx.doi.org/10.5089/9781484338599.001

ISBN: 9781484338599

Keywords: Household credit, Romania, Europe, Central banks and their policies, macroprudential policies, global financial cycle, cross-border spillovers, General

We analyze the effects of macroprudential policies on local bank credit cycles and interactions with international financial conditions. For identification, we exploit the comprehensive credit register containing a...

IMF Executive Board Concludes Article IV Consultation with Romania and Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement

IMF Executive Board Concludes Article IV Consultation with Romania and Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement »

Source: Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

IMF Executive Board Concludes Article IV Consultation with Romania and Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement

IMF Executive Board Concludes Article IV Consultation with Romania and Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement »

Source: Romania : Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/135

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301678

Keywords: Europe, Romania

This paper discusses Romania's Ex-Post Evaluation of Exceptional Access under the 2013 Stand-by Arrangement. Romania experienced strong economic growth in 2016, resulting in a closed output gap. Private consumption...

Romania
			: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania »

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

DOI: http://dx.doi.org/10.5089/9781484301579.002

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

Romania
			: Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By  Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Romania

Romania : Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Romania »

Volume/Issue: 2017/135

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

DOI: http://dx.doi.org/10.5089/9781484301678.002

ISBN: 9781484301678

Keywords: Europe, Romania

This paper discusses Romania's Ex-Post Evaluation of Exceptional Access under the 2013 Stand-by Arrangement. Romania experienced strong economic growth in 2016, resulting in a closed output gap. Private consumption...

Romania
			: Selected Issues

Romania : Selected Issues »

Volume/Issue: 2017/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

DOI: http://dx.doi.org/10.5089/9781484301586.002

ISBN: 9781484301586

Keywords: Romania, Europe

This Selected Issues paper estimates a small open economy model that makes it possible to quantify the relative strength of the trade and financial channels in Hungary, Poland. and Romania. The Bayesian results ind...

Romania: Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement

Romania: Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement »

Source: Romania : Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/135

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301678

Keywords: Europe, Romania

This paper discusses Romania's Ex-Post Evaluation of Exceptional Access under the 2013 Stand-by Arrangement. Romania experienced strong economic growth in 2016, resulting in a closed output gap. Private consumption...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2017/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301586

Keywords: Romania, Europe

This Selected Issues paper estimates a small open economy model that makes it possible to quantify the relative strength of the trade and financial channels in Hungary, Poland. and Romania. The Bayesian results ind...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2017/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301586

Keywords: Romania, Europe

This Selected Issues paper estimates a small open economy model that makes it possible to quantify the relative strength of the trade and financial channels in Hungary, Poland. and Romania. The Bayesian results ind...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2017/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301586

Keywords: Romania, Europe

This Selected Issues paper estimates a small open economy model that makes it possible to quantify the relative strength of the trade and financial channels in Hungary, Poland. and Romania. The Bayesian results ind...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2017/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301586

Keywords: Romania, Europe

This Selected Issues paper estimates a small open economy model that makes it possible to quantify the relative strength of the trade and financial channels in Hungary, Poland. and Romania. The Bayesian results ind...

Romania: Staff Report for the 2017 Article IV Consultation

Romania: Staff Report for the 2017 Article IV Consultation »

Source: Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

Romania: Staff Report for the 2017 Article IV Consultation—Informational Annex

Romania: Staff Report for the 2017 Article IV Consultation—Informational Annex »

Source: Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

Romania: Staff Report for the 2017 Article IV Consultation—Supplementary Information

Romania: Staff Report for the 2017 Article IV Consultation—Supplementary Information »

Source: Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director, May 22, 2017

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director, May 22, 2017 »

Source: Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301579

Keywords: Europe, Romania

This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage inc...

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director, May 22, 2017

Statement by Anthony De Lannoy, Executive Director for Romania and Cezar Botel, Advisor to the Executive Director, May 22, 2017 »

Source: Romania : Ex-Post Evaluation of Exceptional Access Under the 2013 Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: 2017/135

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 May 2017

ISBN: 9781484301678

Keywords: Europe, Romania

This paper discusses Romania's Ex-Post Evaluation of Exceptional Access under the 2013 Stand-by Arrangement. Romania experienced strong economic growth in 2016, resulting in a closed output gap. Private consumption...

Romania
			: Technical Assistance Report-Enabling the Large Taxpayer Office to Reduce the Tax Gap

Romania : Technical Assistance Report-Enabling the Large Taxpayer Office to Reduce the Tax Gap »

Volume/Issue: 2016/284

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2016

DOI: http://dx.doi.org/10.5089/9781475531886.002

ISBN: 9781475531886

This Technical Assistance report discusses measures for enabling Romania's Large Taxpayer Office (LTO) to reduce the tax gap. It recommends changing the criteria for inclusion of taxpayers in the LTO so that it is...

Romania
			: Technical Assistance Report- Improving Compliance Risk Management of Large Taxpayers

Romania : Technical Assistance Report- Improving Compliance Risk Management of Large Taxpayers »

Volume/Issue: 2016/285

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2016

DOI: http://dx.doi.org/10.5089/9781475531893.002

ISBN: 9781475531893

This Technical Assistance report discusses measures for improving compliance risk management of large taxpayers in Romania. The Large Taxpayer Office (LTO) Risk Management Unit needs appropriately skilled staff and...

Romania

Romania »

Source: Romania : Technical Assistance Report-Enabling the Large Taxpayer Office to Reduce the Tax Gap

Volume/Issue: 2016/284

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2016

ISBN: 9781475531886

This Technical Assistance report discusses measures for enabling Romania's Large Taxpayer Office (LTO) to reduce the tax gap. It recommends changing the criteria for inclusion of taxpayers in the LTO so that it is...

Romania

Romania »

Source: Romania : Technical Assistance Report- Improving Compliance Risk Management of Large Taxpayers

Volume/Issue: 2016/285

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2016

ISBN: 9781475531893

This Technical Assistance report discusses measures for improving compliance risk management of large taxpayers in Romania. The Large Taxpayer Office (LTO) Risk Management Unit needs appropriately skilled staff and...

Cross-Country Report on Minimum Wages

Cross-Country Report on Minimum Wages »

Source: Cross-Country Report on Minimum Wages : Selected Issues

Volume/Issue: 2016/151

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2016

ISBN: 9781475528374

Keywords: minimum wage, minimum wages, minimum wage hikes, workers, labor

This paper provides a cross-country report on minimum wages. In the past few years, many countries in Central Eastern and Southeastern Europe (CESEE) have increasingly turned to minimum wage policies. Throughout th...

Cross-Country Report on Minimum Wages
			: Selected Issues

Cross-Country Report on Minimum Wages : Selected Issues »

Volume/Issue: 2016/151

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2016

DOI: http://dx.doi.org/10.5089/9781475528374.002

ISBN: 9781475528374

Keywords: minimum wage, minimum wages, minimum wage hikes, workers, labor

This paper provides a cross-country report on minimum wages. In the past few years, many countries in Central Eastern and Southeastern Europe (CESEE) have increasingly turned to minimum wage policies. Throughout th...

IMF Executive Board Concludes 2016 Article IV Consultation with Romania

IMF Executive Board Concludes 2016 Article IV Consultation with Romania »

Source: Romania : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Romania

Volume/Issue: 2016/113

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475554786

Keywords: inflation, debt, market, monetary fund, fiscal policy

This paper discusses recent economic developments, outlook, and risks related to the Romanian economy. Romania made important progress in addressing economic imbalances and restoring growth after the global financi...

Romania
			: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Romania

Romania : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Romania »

Volume/Issue: 2016/113

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

DOI: http://dx.doi.org/10.5089/9781475554786.002

ISBN: 9781475554786

Keywords: inflation, debt, market, monetary fund, fiscal policy

This paper discusses recent economic developments, outlook, and risks related to the Romanian economy. Romania made important progress in addressing economic imbalances and restoring growth after the global financi...

Romania
			: Selected Issues

Romania : Selected Issues »

Volume/Issue: 2016/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

DOI: http://dx.doi.org/10.5089/9781475555370.002

ISBN: 9781475555370

Keywords: inflation, expectations, prices, tax, unemployment

This paper discusses the following important issues related to the Romanian economy: inflation and inflation expectations, the need to bolster expenditure efficiency, minimum wage policy, and financial sector devel...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2016/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475555370

Keywords: inflation, expectations, prices, tax, unemployment

This paper discusses the following important issues related to the Romanian economy: inflation and inflation expectations, the need to bolster expenditure efficiency, minimum wage policy, and financial sector devel...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2016/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475555370

Keywords: inflation, expectations, prices, tax, unemployment

This paper discusses the following important issues related to the Romanian economy: inflation and inflation expectations, the need to bolster expenditure efficiency, minimum wage policy, and financial sector devel...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2016/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475555370

Keywords: inflation, expectations, prices, tax, unemployment

This paper discusses the following important issues related to the Romanian economy: inflation and inflation expectations, the need to bolster expenditure efficiency, minimum wage policy, and financial sector devel...

Romania: Selected Issues

Romania: Selected Issues »

Source: Romania : Selected Issues

Volume/Issue: 2016/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475555370

Keywords: inflation, expectations, prices, tax, unemployment

This paper discusses the following important issues related to the Romanian economy: inflation and inflation expectations, the need to bolster expenditure efficiency, minimum wage policy, and financial sector devel...

Romania: Staff Report for the 2016 Article IV Consultation

Romania: Staff Report for the 2016 Article IV Consultation »

Source: Romania : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Romania

Volume/Issue: 2016/113

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475554786

Keywords: inflation, debt, market, monetary fund, fiscal policy

This paper discusses recent economic developments, outlook, and risks related to the Romanian economy. Romania made important progress in addressing economic imbalances and restoring growth after the global financi...

Romania: Staff Report for the 2016 Article IV Consultation—Informational Annex

Romania: Staff Report for the 2016 Article IV Consultation—Informational Annex »

Source: Romania : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Romania

Volume/Issue: 2016/113

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2016

ISBN: 9781475554786

Keywords: inflation, debt, market, monetary fund, fiscal policy

This paper discusses recent economic developments, outlook, and risks related to the Romanian economy. Romania made important progress in addressing economic imbalances and restoring growth after the global financi...

Macroprudential Policies in Southeastern Europe

Macroprudential Policies in Southeastern Europe »

Volume/Issue: 2016/29

Series: IMF Working Papers

Author(s): Dilyana Dimova , Piyabha Kongsamut , and Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 2016

DOI: http://dx.doi.org/10.5089/9781498342872.001

ISBN: 9781498342872

Keywords: Credit Growth, Macroprudential Policies, Southeastern Europe, reserve, currency, instruments, domestic credit, Government Policy and Regulation,, Serbia, Romania

This paper presents a detailed account of the rich set of macroprudential measures taken in four Southeastern European countries—Bulgaria, Croatia, Romania, and Serbia—during their synchronized boom and bust cycles...

Macroprudential Policies in Southeastern Europe

Macroprudential Policies in Southeastern Europe »

Source: Macroprudential Policies in Southeastern Europe

Volume/Issue: 2016/29

Series: IMF Working Papers

Author(s): Dilyana Dimova , Piyabha Kongsamut , and Jérôme Vandenbussche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 2016

ISBN: 9781498342872

Keywords: Credit Growth, Macroprudential Policies, Southeastern Europe, reserve, currency, instruments, domestic credit, Government Policy and Regulation,, Serbia, Romania

This paper presents a detailed account of the rich set of macroprudential measures taken in four Southeastern European countries—Bulgaria, Croatia, Romania, and Serbia—during their synchronized boom and bust cycles...

Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators

Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators »

Volume/Issue: 2016/26

Series: IMF Working Papers

Author(s): Joseph Crowley , Plapa Koukpamou , Elena Loukoianova , and André Mialou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2016

DOI: http://dx.doi.org/10.5089/9781498337014.001

ISBN: 9781498337014

Keywords: Financial Soundness Indicators, Concentration and Distribution Measures, institutions, data, pilot project, confidentiality, information, General, All Countries, Fiscal Crisis,

This paper reports the main findings of a pilot project launched in July 2014 by the IMF’s Statistics Department to test augmenting the IMF’s financial soundness indicators (FSIs) with concentration and distributio...

Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators

Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators »

Source: Pilot Project on Concentration and Distribution Measures for a Selected Set of Financial Soundness Indicators

Volume/Issue: 2016/26

Series: IMF Working Papers

Author(s): Joseph Crowley , Plapa Koukpamou , Elena Loukoianova , and André Mialou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2016

ISBN: 9781498337014

Keywords: Financial Soundness Indicators, Concentration and Distribution Measures, institutions, data, pilot project, confidentiality, information, General, All Countries, Fiscal Crisis,

This paper reports the main findings of a pilot project launched in July 2014 by the IMF’s Statistics Department to test augmenting the IMF’s financial soundness indicators (FSIs) with concentration and distributio...

Floating with a Load of FX Debt?

Floating with a Load of FX Debt? »

Source: Floating with a Load of FX Debt?

Volume/Issue: 2015/284

Series: IMF Working Papers

Author(s): Tatsiana Kliatskova , and Uffe Mikkelsen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

ISBN: 9781513543307

Keywords: FX interventions, Balance sheet effects, exchange, exchange rate, currency, debt, International Lending and Debt Problems, All Countries,

Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential nega...

Floating with a Load of FX Debt?

Floating with a Load of FX Debt? »

Volume/Issue: 2015/284

Series: IMF Working Papers

Author(s): Tatsiana Kliatskova , and Uffe Mikkelsen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

DOI: http://dx.doi.org/10.5089/9781513543307.001

ISBN: 9781513543307

Keywords: FX interventions, Balance sheet effects, exchange, exchange rate, currency, debt, International Lending and Debt Problems, All Countries,

Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential nega...

Emerging Market Portfolio Flows

Emerging Market Portfolio Flows »

Source: Emerging Market Portfolio Flows : The Role of Benchmark-Driven Investors

Volume/Issue: 2015/263

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Takahiro Tsuda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2015

ISBN: 9781513570655

Keywords: Portfolio Choice, Investment Decisions, markets, currency, investors, government debt, debt, General, All Countries, and Investment Decisions,

Portfolio flows to emerging markets (EMs) tend to be correlated. A possible explanation is the role global benchmarks play in allocating capital internationally, the so-called 'benchmark effect.' This paper finds t...

Emerging Market Portfolio Flows
			: The Role of Benchmark-Driven Investors

Emerging Market Portfolio Flows : The Role of Benchmark-Driven Investors »

Volume/Issue: 2015/263

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Takahiro Tsuda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2015

DOI: http://dx.doi.org/10.5089/9781513570655.001

ISBN: 9781513570655

Keywords: Portfolio Choice, Investment Decisions, markets, currency, investors, government debt, debt, General, All Countries, and Investment Decisions,

Portfolio flows to emerging markets (EMs) tend to be correlated. A possible explanation is the role global benchmarks play in allocating capital internationally, the so-called 'benchmark effect.' This paper finds t...

Global Value Chains and the Exchange Rate Elasticity of Exports

Global Value Chains and the Exchange Rate Elasticity of Exports »

Source: Global Value Chains and the Exchange Rate Elasticity of Exports

Volume/Issue: 2015/252

Series: IMF Working Papers

Author(s): Swarnali Ahmed , Maximiliano Appendino , and Michele Ruta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2015

ISBN: 9781513531793

Keywords: Real Exchange Rate, Global Value Chains, exports, exchange, value, elasticity, trade, Country and Industry Studies of Trade, All Countries,

This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some...

Global Value Chains and the Exchange Rate Elasticity of Exports

Global Value Chains and the Exchange Rate Elasticity of Exports »

Volume/Issue: 2015/252

Series: IMF Working Papers

Author(s): Swarnali Ahmed , Maximiliano Appendino , and Michele Ruta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2015

DOI: http://dx.doi.org/10.5089/9781513531793.001

ISBN: 9781513531793

Keywords: Real Exchange Rate, Global Value Chains, exports, exchange, value, elasticity, trade, Country and Industry Studies of Trade, All Countries,

This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some...

I. Recent Developments, Outlook, and Risks

I. Recent Developments, Outlook, and Risks »

Source: Regional Economic Issues, November 2015, Europe

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

While a modest contraction in activity is expected this year for the Central, Eastern and Southeastern Europe (CESEE) as a whole, this reflects widely divergent country-specific developments. Mo...

II. Fiscal Consolidation in CESEE and ITS Long-Term Impact on Growth

II. Fiscal Consolidation in CESEE and ITS Long-Term Impact on Growth »

Source: Regional Economic Issues, November 2015, Europe

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

After the onset of the global financial crisis, economies in CESEE came under pressure to correct external and internal imbalances. By now, much of the external adjustment has taken place, via i...

III. Policy Priorities

III. Policy Priorities »

Source: Regional Economic Issues, November 2015, Europe

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

Supporting domestic demand, addressing crisis legacies, rebuilding buffers against external shocks, and improving the business environment to boost investment and long-term growth are still the...

Regional Economic Issues, November 2015, Europe

Regional Economic Issues, November 2015, Europe »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

DOI: http://dx.doi.org/10.5089/9781513528731.086

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

The key policy challenges facing countries in Central, Eastern, and Southeastern Europe remain broadly unchanged, among them supporting domestic demand, addressing financial crisis legacies, rebuilding buffers agai...

Back Matter

Back Matter »

Source: Regional Economic Issues, November 2015, Europe

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

The key policy challenges facing countries in Central, Eastern, and Southeastern Europe remain broadly unchanged, among them supporting domestic demand, addressing financial crisis legacies, rebuilding buffers agai...

Front Matter

Front Matter »

Source: Regional Economic Issues, November 2015, Europe

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 November 2015

ISBN: 9781513528731

Keywords: taxes, expenditure, revenue, tax, budget

The key policy challenges facing countries in Central, Eastern, and Southeastern Europe remain broadly unchanged, among them supporting domestic demand, addressing financial crisis legacies, rebuilding buffers agai...

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence†

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence† »

Source: Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Volume/Issue: 2015/226

Series: IMF Working Papers

Author(s): Olivier Blanchard , Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513500805

Keywords: capital inflows, bonds, bond, return, domestic bonds, All Countries, apital inflows,

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead t...

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence »

Volume/Issue: 2015/226

Series: IMF Working Papers

Author(s): Olivier Blanchard , Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

DOI: http://dx.doi.org/10.5089/9781513500805.001

ISBN: 9781513500805

Keywords: capital inflows, bonds, bond, return, domestic bonds, All Countries, apital inflows,

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead t...

A Strategy for Resolving Europe's Problem Loans

A Strategy for Resolving Europe's Problem Loans »

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

DOI: http://dx.doi.org/10.5089/9781513591278.006

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

A Strategy for Resolving Europe’s Problem Loans1

A Strategy for Resolving Europe’s Problem Loans1 »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

A Strategy for Resolving Europe’s Problem Loans

A Strategy for Resolving Europe’s Problem Loans »

Source: A Strategy for Resolving Europe's Problem Loans

Volume/Issue: 2015/19

Series: Staff Discussion Notes

Author(s): Shekhar Aiyar , Wolfgang Bergthaler , Jose Garrido , Anna Ilyina , Andreas Jobst , Kenneth Kang , Dmitriy Kovtun , Yan Liu , Dermot Monaghan , and Marina Moretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

ISBN: 9781513591278

Keywords: Bank resolution, Banks, Debt restructuring, Europe, Non-performing loans, Corporate debt, Nonperforming loans, NPL resolution, credit growth, debt

Europe's banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorit...

Exports in a Tariff-Free Environment

Exports in a Tariff-Free Environment »

Source: Exports in a Tariff-Free Environment : What Structural Reforms Matter? Evidence from the European Union Single Market

Volume/Issue: 2015/187

Series: IMF Working Papers

Author(s): Jesmin Rahman , Ara Stepanyan , Jessie Yang , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2015

ISBN: 9781513552170

Keywords: Export integration, structural reform, supply chain, new member states, environment, trade, incentives, Country and Industry Studies of Trade,

How do countries enhance their exports of goods in a largely tariff-free environment? Our investigation of export performance of new member states in the European Union single market, which provides a natural contr...

Exports in a Tariff-Free Environment
			: What Structural Reforms Matter? Evidence from the European Union Single Market

Exports in a Tariff-Free Environment : What Structural Reforms Matter? Evidence from the European Union Single Market »

Volume/Issue: 2015/187

Series: IMF Working Papers

Author(s): Jesmin Rahman , Ara Stepanyan , Jessie Yang , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2015

DOI: http://dx.doi.org/10.5089/9781513552170.001

ISBN: 9781513552170

Keywords: Export integration, structural reform, supply chain, new member states, environment, trade, incentives, Country and Industry Studies of Trade,

How do countries enhance their exports of goods in a largely tariff-free environment? Our investigation of export performance of new member states in the European Union single market, which provides a natural contr...

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Volume/Issue: 2015/167

Series: IMF Working Papers

Author(s): Luis Catão , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 July 2015

ISBN: 9781513523507

Keywords: Country Risk, Interest Rate Spread, Haircut, market, debt, default, interest, interest rate, International Lending and Debt Problems, General

We re-assess the view that sovereigns with a history of default are charged only a small and/or short-lived premium on the interest rate warranted by observed fundamentals. Our reassessment uses a metric of such a...

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Volume/Issue: 2015/167

Series: IMF Working Papers

Author(s): Luis Catão , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 July 2015

DOI: http://dx.doi.org/10.5089/9781513523507.001

ISBN: 9781513523507

Keywords: Country Risk, Interest Rate Spread, Haircut, market, debt, default, interest, interest rate, International Lending and Debt Problems, General

We re-assess the view that sovereigns with a history of default are charged only a small and/or short-lived premium on the interest rate warranted by observed fundamentals. Our reassessment uses a metric of such a...

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? »

Source: Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Volume/Issue: 2015/159

Series: IMF Working Papers

Author(s): Olivier Blanchard , Gustavo Adler , and Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2015

ISBN: 9781513585840

Keywords: exchange rate, gross capital flows, exchange, market, General,

Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these...

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? »

Volume/Issue: 2015/159

Series: IMF Working Papers

Author(s): Olivier Blanchard , Gustavo Adler , and Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2015

DOI: http://dx.doi.org/10.5089/9781513585840.001

ISBN: 9781513585840

Keywords: exchange rate, gross capital flows, exchange, market, General,

Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these...

LTV and DTI Limits-Going Granular

LTV and DTI Limits-Going Granular »

Volume/Issue: 2015/154

Series: IMF Working Papers

Author(s): Luis I. Jacome H. , and Srobona Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2015

DOI: http://dx.doi.org/10.5089/9781513551449.001

ISBN: 9781513551449

Keywords: loan-to-value ratios, debt-service-to income ratios, house price growth, credit growth, credit, loans, loan, mortgage, debt, Financial Markets and the Macroeconomy

There is increasing interest in loan-to-value (LTV) and debt-service-to-income (DTI) limits as many countries face a new round of rising house prices. Yet, very little is known on how these regulatory instruments w...

LTV and DTI Limits—Going Granular1

LTV and DTI Limits—Going Granular1 »

Source: LTV and DTI Limits-Going Granular

Volume/Issue: 2015/154

Series: IMF Working Papers

Author(s): Luis I. Jacome H. , and Srobona Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2015

ISBN: 9781513551449

Keywords: loan-to-value ratios, debt-service-to income ratios, house price growth, credit growth, credit, loans, loan, mortgage, debt, Financial Markets and the Macroeconomy

There is increasing interest in loan-to-value (LTV) and debt-service-to-income (DTI) limits as many countries face a new round of rising house prices. Yet, very little is known on how these regulatory instruments w...

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies »

Volume/Issue: 2015/148

Series: IMF Working Papers

Author(s): Diana Ayala Pena , Milan Nedeljkovic , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2015

DOI: http://dx.doi.org/10.5089/9781513579757.001

ISBN: 9781513579757

Keywords: bond, markets, debt, market, General, General, General,

This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. Duri...

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies1

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies1 »

Source: What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

Volume/Issue: 2015/148

Series: IMF Working Papers

Author(s): Diana Ayala Pena , Milan Nedeljkovic , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2015

ISBN: 9781513579757

Keywords: bond, markets, debt, market, General, General, General,

This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. Duri...

The Journey to Inflation Targeting
			: Easier Said than Done The Case for Transitional Arrangements along the Road

The Journey to Inflation Targeting : Easier Said than Done The Case for Transitional Arrangements along the Road »

Volume/Issue: 2015/136

Series: IMF Working Papers

Author(s): Bernard Laurens , Kelly Eckhold , Darryl King , Nils Mæhle , Abdul Naseer , and Alain Durré

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 June 2015

DOI: http://dx.doi.org/10.5089/9781513567990.001

ISBN: 9781513567990

Keywords: central bank, exchange rate, interest rates, central banks, General,

Countries with evolving monetary regimes that decide to embark on 'the Journey to inflation targeting' may not be able to adopt a full-fledged inflation targeting regime immediately. Those countries would be better...

The Journey to Inflation Targeting

The Journey to Inflation Targeting »

Source: The Journey to Inflation Targeting : Easier Said than Done The Case for Transitional Arrangements along the Road

Volume/Issue: 2015/136

Series: IMF Working Papers

Author(s): Bernard Laurens , Kelly Eckhold , Darryl King , Nils Mæhle , Abdul Naseer , and Alain Durré

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 June 2015

ISBN: 9781513567990

Keywords: central bank, exchange rate, interest rates, central banks, General,

Countries with evolving monetary regimes that decide to embark on 'the Journey to inflation targeting' may not be able to adopt a full-fledged inflation targeting regime immediately. Those countries would be better...