stability

Romania has taken significant steps toward restoring macroeconomic stability and adjusting pre-recession imbalances, says a press release issued Friday by John Lipsky, first deputy managing director of the International Monetary Fund.

Romania’s financial system has proven able to absorb shocks of a relative moderate intensity and persistence during the economic crisis, as the risks were reduced due to the low external exposure, the central bank said Monday in its 2009 Financial Stability Report.

Romanian liberal Prime Minister Calin Popescu Tariceanu said Monday, within the reunion of liberals in South-Eastern Europe, that Romania offers unconditioned support to the enlargement process of the European Union in the hopes of turning the Western Balkans into a region of stability and prosperity.