The Romanian government has been successful to date in implementing its fiscal consolidation program, as reflected in the first three IMF reviews and subsequent receipt of IMF disbursements. We believe that Romania is likely to continue to comply with the IMF/EU standby agreement, thereby further easing external financial pressures. We are revising our outlook on Romania to stable from negative. The stable outlook reflects our view that the government is likely to reinforce its ongoing budgetary consolidation effort with structural improvements in its fiscal framework. On March 9, 2010, Standard & Poor's Ratings Services revised its outlook to stable from negative on the long-term local and foreign currency sovereign credit ratings on the Republic of Romania. At the same time,...
Companies mentioned in this report are:
- National Bank of Romania
Action: Outlook: Stable
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