REMEMBRANCE IN TIME - Index of

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Remembrance in Time
For a period of 15 years, Romania has been removed from the world circuit of
capital. The resulting financial quarantines were felt for a long time and the Romanian
economy became darker than before. After “debtor euphoria” of the '70s, there was
despair prepayment of external debt by all means, also, desperate, even including the
massive sales of food and gold. The result was a weakness economy and population.
And what followed was not encouraging. The reserve gathered in 1989, 1.8 billion
dollars, was exhausted in a few months of 1990, when we sees another reversal in
Romania's trade balance: exports fell and imports increased massively. And again,
currency pantry was almost empty. In the summer of 1992, Romania was again on the
brink of insolvency 5 .
5 Adrian Vasilescu, Valuta din cămara Băncii NaŃionale (The Currency from the “storehouse” of
the National Bank) (V), in „Ziarul Financiar” (Financial Newspaper), year XI, no.
2668/23.06.2009