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Author: Ramona Dumitriu Publisher: ISBN: Category : Languages : en Pages : 15
Book Description
This paper approaches the evolution of Romania's foreign debt in three periods of time: during Nicolae Ceausescu regime, in the transition period and the one which followed the adhesion to European Union. For all three periods the external debt management had to deal with different circumstances: the sharp increase of real interest rates from the 1980s, the lack of credibility on international financial markets from the 1990s or the recent global crisis. We conclude that political regime, the efficiency of the allocation of the borrowed funds or the international context played major roles in the external debt management.
Author: Ramona Dumitriu Publisher: ISBN: Category : Languages : en Pages : 15
Book Description
This paper approaches the evolution of Romania's foreign debt in three periods of time: during Nicolae Ceausescu regime, in the transition period and the one which followed the adhesion to European Union. For all three periods the external debt management had to deal with different circumstances: the sharp increase of real interest rates from the 1980s, the lack of credibility on international financial markets from the 1990s or the recent global crisis. We conclude that political regime, the efficiency of the allocation of the borrowed funds or the international context played major roles in the external debt management.
Author: Mariana Man Publisher: ISBN: Category : Languages : en Pages : 10
Book Description
The objective of the hereby work is to identify, within public debt, the prevailing part played by the two components of governmental public debt, namely internal governmental public debt and external governmental public debt, while considering both components as extremely important for the economic administration of a country in the present day context of financial crisis. With a view to make clear the analyzed phenomenon, we have employed an important amount of statistic data in order to carry out the research dealing with the dynamics of Romania's governmental public debt during the period 2001-2010 which emphasized the main tendencies displayed by its evolution and which influence the measures meant to improve the management of public debt.
Author: George Georgescu Publisher: ISBN: Category : Languages : en Pages :
Book Description
Based on more recent research and evidence, including declassified information regarding the communist period in Romania, the study focuses on examining the 1980s foreign debt crisis context, its determinants and consequences, the impact of internal and external factors, intending to provide an image closer to reality of this dramatic episode. The global economy faced a severe economic and financial crisis at the beginning of the 1980s, when more than 30 developing countries entered default or restructuring on the sovereign debt. In the case of Romania, the impact of the foreign debt crisis triggered in 1981-1982 proved to be extremely hard, worsened by the overlap between the internal vulnerabilities accumulated in previous decades and the external shock coming from the major changes in the global economic, financial and geopolitical context at the end of 1979. The FED monetary policy at that time has led to the explosive rise in interest rates of the outstanding loans contracted from international commercial banks, to which Romania was highly indebted. The decision of simple-minded Ceausescu to liquidate the foreign debt and other serious errors concerning the crisis management had a destructive impact on the Romanian economy, which degenerated in a system crisis ended with its implosion in December 1989. Some consequences of the foreign debt crisis were felt also afterwards, slowing down significantly the pace of Romania’s transition to the market economy.
Author: Mr.Dimitri G. Demekas Publisher: International Monetary Fund ISBN: 9781557751904 Category : Business & Economics Languages : en Pages : 50
Book Description
This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1589060601 Category : Business & Economics Languages : en Pages : 327
Book Description
This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.
Author: World Bank Publisher: World Bank Publications ISBN: 1464816115 Category : Business & Economics Languages : en Pages : 227
Book Description
International Debt Statistics (IDS), a long-standing annual publication of the World Bank, features external debt statistics and analysis for the 120 low- and middle-income countries that report to the World Bank Debtor Reporting System. IDS 2021 includes (1) an overview analyzing global trends in debt stocks of and debt flows to low- and middle-income countries within the framework of aggregate capital flows (debt and equity); (2) a feature story on the World Bank and International Monetary Fund Debt Service Suspension Initiative in response to the COVID-19 pandemic; (3) tables and charts detailing debtor and creditor composition of debt stock and flows, terms of new commitments, and maturity structure of future debt service payments and debt burdens, measured in relation to gross national income and export earnings for each country; (4) one-page summaries per country, plus global, regional, and income group aggregates showing debt stocks and flows, relevant debt indicators, and metadata for six years (2009 and 2015†“19); and (5) a user guide describing the tables and content, definitions and rationale for the country and income groupings used in the report, data notes, and information about additional resources and comprehensive data sets available to users online. Unique in its coverage of the important trends and issues fundamental to the financing of low- and middle-income countries, IDS 2021 is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. For more information on IDS 2021 and related products, please visit the World Bank’s Data Catalog at https://datacatalog.worldbank.org/dataset/international-debt-statistics.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1484301048 Category : Business & Economics Languages : en Pages : 67
Book Description
This 2015 Article IV Consultation highlights that Romania’s economic recovery has become more entrenched and broad based, with private consumption picking up on the back of rising real disposable income. At the same time, inflation has decelerated substantially over the past two years and a negative output gap persists. The banking sector has considerably reduced nonperforming loans, though they remain high, and private sector credit has fallen since 2013. Growth is projected to remain robust in a low inflation environment. Raising growth prospects over the longer term requires continuity of sustainable macroeconomic policies, underpinned by stronger fiscal and regulatory institutions, and a more stable and predictable business environment, which is crucial for investor confidence.
Author: World Bank Publisher: World Bank Publications ISBN: 1464814414 Category : Business & Economics Languages : en Pages : 241
Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: Ramona Dumitriu
Author: Ramona Dumitriu
Author: Marvin R. Jackson
Author: Mariana Man
Author: George Georgescu
Author: Mr.Dimitri G. Demekas
Author: International Monetary Fund
Author: World Bank
Author: International Monetary Fund. European Dept.
Author: World Bank
Author: Akintayo Fasipe