INTERNATIONAL FINANCING ALTERNATIVES FOR ROMANIAN CENTRAL GOVERNMENT

Abstract

At present all world countries are seeking to attract the cheapest way of public resources needed to cover budget deficits. This paper aims to review the five alternatives for external funding of countries faced with insufficient public funds to the state budget. It focuses on the possibilities of financing with borrowed resources. The financing alternatives are presented from the perspective of Romania's access to them, with comparative references to other European Union member states. International funding alternatives are: loans from the International Monetary Fund, World Bank, European Commission, European Bank for Reconstruction and Development, European Investment Bank.external financing, EFSM, EFSF, IMF – EU – World Bank financing package