Republic of Moldova: Request for an Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova

November 9, 2016

Preview Citation

Format: Chicago

Republic of Moldova: Request for an Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova, (USA: International Monetary Fund, 2016) accessed November 23, 2024

Summary

Since late 2014, Moldova’s economy has been hit by a number of domestic and external shocks. Chief among them is the exposure of extensive and well-orchestrated fraud in the banking system, resulting in the closure of three banks at a public cost of 10 percent of GDP. During the following period, confidence collapsed, external concessional financing largely froze, and international reserves fell by one-third, prompting significant tightening of monetary conditions. Domestic political turmoil, marked by three changes in government, constrained solutions and delayed collaboration with the international community on possible financial support.

Subject: Banking, Budget planning and preparation, Central banks, Commercial banks, Expenditure, Fiscal risks, International reserves, Public financial management (PFM), Tariffs, Taxes

Keywords: Banking reform, Budget planning and preparation, CR, Credit portfolio, Europe, Fiscal risks, Government, IMF staff estimate, International reserves, ISCR, Moldova, Reform agenda, Revenue base, Shareholder, Tariffs

Publication Details

Pages:

93
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2016/343
Stock No:

1MDAEA2016007
ISBN:

9781475552096
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports