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Romania: Financial System Stability Assessment, Including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Anti-Money Laundering and Combating the Financing of Terrorism, Monetary and Financial Policy Transparency

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  • International Monetary Fund

Abstract

The program of budget restraint and reduction of the quasi-fiscal losses, supported by the IMF's Stand-By Arrangement, was successful in bringing domestic demand down to sustainable levels, lowering inflation, and narrowing the current account deficit. The stabilization effort was supported by the fiscal policy. A sensitivity analysis is used to assess banking sector vulnerabilities. The Deposit Guarantee Fund (DGF) is operating satisfactorily but will need to strengthen its resources considerably to provide a sufficient level of support. The insurance sector is small and underdeveloped.

Suggested Citation

  • International Monetary Fund, 2003. "Romania: Financial System Stability Assessment, Including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Anti-Money Laundering an," IMF Staff Country Reports 2003/389, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2003/389
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