Republic of Moldova: Staff Report for the 2014 Article IV Consultation and First Post-Program Monitoring Discussions

IMF Staff Country Reports, July 8, 2014

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Canonical URL: Republic of Moldova: Staff Report for the 2014 Article IV Consultation and First Post-Program Monitoring Discussions

The report examines Moldova’s 2014 Article IV Consultation and First Post-Program Monitoring Discussions.
Moldova largely achieved the main objectives of the economic program supported by a combined Extended Credit Facility/Extended Fund Facility (ECF/EFF).
The IMF-supported program's adequate macroeconomic stabilization measures and ambitious structural reforms were key factors enabling recovery after the crisis.

Moldova’s economic performance was among the strongest in the region during 2010–2013.
Recovery followed the drought-related contraction of 2012.

Economic activity will significantly slow in 2014 owing to:
- a moderation in agriculture production and related industries, and
- weaker economic activity in main trading partners.

Fiscal and public finance:
- Subjects include Budget planning and preparation; Expenditure; Fiscal policy; Public financial management (PFM).
Debt and financial sector:
- Subjects include External debt; Public and publicly-guaranteed external debt; Public debt; banking system restructuring.
Governance and regulation:
- Subjects include anti-money laundering regime; authorities' fiscal consolidation; authority.
Macroeconomic policy and analysis:
- Keywords include inflation target range; macroeconomic policy; IMF staff estimate; ISCR; near-term plan.

Republic of Moldova: Staff Report for the 2014 Article IV Consultation and First Post-Program Monitoring Discussions, July 8, 2014