Romania’s Accession to the International Monetary Fund (1967-1972) Cover Image
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Aderarea României la Fondul Monetar Internațional (1967-1972)
Romania’s Accession to the International Monetary Fund (1967-1972)

Author(s): Mihaela Botnari
Subject(s): Economic history, Post-War period (1950 - 1989), History of Communism, Cold-War History
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: International Monetary Fund; Clod War; Communism; Economic Relations; Romanian government;

Summary/Abstract: Addressing Romania’s accession to the International Monetary Fund, this paper focuses on Romania's political and diplomatic actions and approaches to joining the international financial organizations. The period under investigation ranges from 1968 when the first negotiations took place and 1972, when the decision to join was taken and when Romania joined the IMF. During this period, the Romanian authorities launched a series of actions on several levels, to identify the opportunities offered by a possible IMF accession. Romanian embassies in Western countries prepared information about the activity of these institutions, organized official and informal meetings between representatives of the Romanian government and the IMF officials, and established diplomatic discussion channels. The NBR organized working groups and followed closely the activity of neighbouring socialist countries that were founding members or that were in talks with the IMF. The research will highlight the reasons and expectations of the Romanian govern­ment for the collaboration with the International Monetary Fund, the reasons for joining the International Monetary Fund, the decision-makers involved, and the institutions involved in the negotiations. Furthermore, the research will monitor the economic situation and will describe the general economic context as well as Romania's economic development plans, with mentions of how the economic and technology exchanges were established. The international economic situation and the opening of international financial assistance institutions favoured Romania's negotiations and accession to the IMF. The study will observe closely using archival resources, to whom this initiative belonged and who made accession possible and what problems arose during the negotiations.

  • Issue Year: 8/2021
  • Issue No: 8
  • Page Range: 177-199
  • Page Count: 23
  • Language: Romanian