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A Look At The Evolution And Characteristics Of The Romanian Foreign Debt Over The Past Years


  • MILEA, Camelia

    (”Victor Slăvescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest)


The foreign debt represents foreign capital used by a country when the domestic capital is not enough for the investments needed at the national level. On the basis of the analysis of some indicators characterizing the evolution and state of Romania’s foreign debt (on the short, medium and long-term), as well as the structure by creditors of the medium and long term Romanian public foreign debt, and finally the structure of the reserve assets of the National Bank of Romania, in the article1 the author intends to depict not only some of the effects, but also the possible causes of this situation and to show if Romania’s foreign debt is sustainable, using qualitative and quantitative evaluations, interpretations and comparative analyses. The analysis is conducted for the period 2013-2016 and it shows that 2009, as well as 2013, have represented turning points in the evolution of the Romanian foreign debt on the medium and long term and its components.

Suggested Citation

  • MILEA, Camelia, 2017. "A Look At The Evolution And Characteristics Of The Romanian Foreign Debt Over The Past Years," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 21(4), pages 65-81.
  • Handle: RePEc:vls:finstu:v:21:y:2017:i:4:p:65-81

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    References listed on IDEAS

    1. Georgescu, George, 2016. "Prospects of Romania’s international investment position and financial stability risks," MPRA Paper 69501, University Library of Munich, Germany.
    2. AfDB AfDB, . "Annual Report 2012," Annual Report, African Development Bank, number 461.
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    More about this item


    structure of debt; external public debt; debt sustainability; risks;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt


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