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Evaluarea României: adevăr sau ficţiune?

By George Georgescu


The paper focuses on the current system of country risk assessment by the main rating agencies, pointing out some of its weaknesses. Under these circumstances, was found that Romania is overrated by the international agencies, mainly due to political reasons, related to the close accession of the country into the European Union. The EU Member status does not however guarantee the financial stability, a possible rating downgrade - back to speculative grade - caused by the accelerated deterioration of trade and current account balances, making more expensive the increased borrowing costs to cover the deficits and threatening Romania’s external debt sustainability.

Topics: F15 - Economic Integration, F34 - International Lending and Debt Problems, F32 - Current Account Adjustment; Short-Term Capital Movements, O24 - Trade Policy; Factor Movement Policy; Foreign Exchange Policy, G18 - Government Policy and Regulation
Year: 2006
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