National Bank of Romania Management in Time of Financial Crisis
National Bank of Romania Management in Time of Financial Crisis

Summary/Abstract: According to the objectives pursued in preparing Romania's accession to the European Union (E.U), the National Bank of Romania (N.B.R.) acted in line with Romania's constant efforts aiming to adapt - institutionally, structurally and operationally - the Romanian economy to the E.U. requirements. The E.U. requirements on financial crisis management ask for an agreement of co-operation between all national financial supervisors, central bank and finance ministry. The current financial and economic crisis started at the end of 2008 and appears to be unprecedented in the last century. For 2009, N.B.R. tried to stay consequent in its economic growth projection bringing the following arguments: • lower ratio of exports to Gross Domestic Product (G.D.P.); • lower level of financial intermediation; • the fact that Romania has a nearly balanced energy balance; • exchange rate flexibility; • large volume of structural funds which may be attracted to Romania.

• Details
• Contents