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
International Monetary Fund. European Dept.
May 2017 · International Monetary Fund
Ebook
54
Pages
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About this ebook
A 24-month precautionary Stand-By Arrangement (SBA) was approved in September 2013. The SBA, in an amount of SDR 1,751 million (170 percent of quota), was supported by the European Union and the World Bank and entailed exceptional access given Romania’s cumulative use of Fund resources. It followed on the heels of two previous SBAs, which had considerably reduced external and fiscal imbalances. Since 1991, a total of ten programs have been approved with Romania and, at the time of the 2013 SBA request, Romania was the fourth largest Fund borrower.
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