Romania Selected Issues and Statistical Appendix

This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long periods of time have little incentive to reduce arrears. The state contributed to gro...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2004
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Romania  |b Selected Issues and Statistical Appendix 
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300 |a 98 pages 
651 4 |a Romania 
653 |a Finance, Public 
653 |a Depository Institutions 
653 |a Interest rates 
653 |a Inflation 
653 |a Producer prices 
653 |a Public-Private Enterprises 
653 |a Banks 
653 |a Finance 
653 |a Currency; Foreign exchange 
653 |a Public Enterprises 
653 |a Financial services 
653 |a Deflation 
653 |a Micro Finance Institutions 
653 |a Exports and Imports 
653 |a Arrears 
653 |a Mortgages 
653 |a International economics 
653 |a International Lending and Debt Problems 
653 |a Debts, External 
653 |a External debt 
653 |a Foreign Exchange 
653 |a Price Level 
653 |a Banks and Banking 
653 |a Prices 
653 |a Macroeconomics 
653 |a Banking 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Exchange rates 
653 |a Foreign exchange 
653 |a Central bank policy rate 
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989 |b IMF  |a International Monetary Fund 
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520 |a This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long periods of time have little incentive to reduce arrears. The state contributed to growth of arrears by accepting nonmonetary tax and utility payments, using tax offsets in procurement, and tolerating payment arrears. These practices have been prevalent at all levels of state and local government, as well as state utility companies