01880cas a2200241 a 4500 AALejournalIMF006105 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451832921 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Romania : First Review Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Request for Modification and Establishment of Performance Criteria; Statement by the IMF Staff Representative; and Press Release on the Executive Board Discussion;. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (60 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The contraction in Romania's domestic demand has set off a sharp correction in external imbalances and helped ease pressures on inflation. Real GDP contracted by 7.6 percent in the first half of 2009, compared with 2 percent projected under the program, on account of a sharp drop in domestic demand, especially consumption. This posed a particular challenge for public finances, where weakening revenues required sharp temporary cuts in spending to meet what turned out to be structurally tight targets. Monetary and exchange rate policies will remain anchored on targeting inflation over the medium term. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2009/301 Full text available on IMF http://elibrary.imf.org/view/journals/002/2009/301/002.2009.issue-301-en.xml IMF e-Library