Search results
Results From The WOW.Com Content Network
In the 1980s, severe austerity measures were imposed in the Socialist Republic of Romania by President Nicolae Ceaușescu in order to pay off the external debt incurred by the state in the 1970s. Beginning in 1981, the austerity led to economic stagnation that continued all throughout the 1980s, a " sui generis shock therapy " which lowered the ...
Social and economic malaise had been present in the Socialist Republic of Romania for quite some time, especially during the austerity years of the 1980s. The austerity measures were designed in part by Ceaușescu to repay the country's foreign debts, but resulted in widespread shortages that fomented unrest. [11]
Romania become the first country in the Eastern Bloc ever to establish economic relations with the European Community. The Generalised System of Preferences is signed, followed by an Agreement on Industrial Products in 1980. 1976: At the age of 14, Nadia Comăneci becomes one of the stars of the 1976 Summer Olympics in Montreal. During the team ...
In 1981, in order to pay its due debts, Romania requested the International Monetary Fund a line of credit [1] and adopted a policy to pay back all its debt. [3] The decision to repay the debt has been considered irrational, as other developing countries that were hit by the same problem were able to obtain debt rescheduling or "haircuts".
Pages in category "1980s in economic history" ... 1980s austerity policy in Romania; 1980s oil glut; ... Early 1980s recession in the United States;
Despite having mineral resources and a state interventionist policy, Romania was not able to change the agricultural character of its economy into an industrial one. [1] 80% of its population was employed in labor-intensive agriculture, which made up 64% of Romania's exports, while only 2% of its exports consisted of manufactured goods. [1]
The South American country, a major grains producer, is battling inflation nearing 150%, central bank reserves deep in the red and two-fifths of the population in poverty. It has a wobbling $44 ...
Early second century AD. The ancient sources about the Carpi, before 104 AD, located them on a territory situated between the western side of Eastern European Galicia and the mouth of the Danube. [139] The name of the tribe is homonymous with the Carpathian mountains. [140]