WB Goup: Capital markets key to Romania’s sustained growth

Romania needs to develop deeper and more liquid financial markets in order to sustain economic growth, World Bank Group experts told a capital markets conference in Bucharest on Thursday. The conference was co-hosted by the World Bank Group and Romania’s Financial Supervisory Authority (ASF).

Thirty representatives of the banking sector, regulatory agencies, pension funds and the government attending the conference tackled the trends in Romania’s economic growth and the role of capital markets in financial reform and private sector financing.

“As the main regulatory body for Romania’s capital markets, we advocate for a regulatory framework that is sound, flexible and attractive to issuers and investors”, ASF President Misu Negritoiu said. “We are working towards this goal and we welcome the partnership and support of the World Bank Group in this effort.”

Participants also addressed the different roles of government and non-government bond markets, discussing how to set up a regulatory framework and a capital market infrastructure that encourages issuers and investors to access markets while safeguarding investors.

“Romania’ s capital markets are playing an essential part in sustaining economic growth,” Bahar Alsharif, Deputy Treasures of the International Finance Corporation, told debaters. “Financial sector reforms that promote deeper capital markets will encourage greater international and domestic investments in the country, supporting private sector development and job creation,” he added.