The Republic of Moldova: Staff Report for the 2015 Article IV Consultation and Third Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova

January 20, 2016

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The Republic of Moldova: Staff Report for the 2015 Article IV Consultation and Third Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Summary

This 2015 Article IV Consultation highlights that Moldova’s economic growth, at 3.6 percent, came in surprisingly strong in the first half of 2015 and was largely driven by net exports. Reserves fell by about a third between October 2014 and February 2015, but have been stable since. Net outflows in the financial account surged at end-2014, owing to election uncertainty and the banking crisis, but the outflow in currency and deposits tapered off in the second quarter of 2015. The near-term outlook is difficult. The economy is projected to contract by 1.75 percent in 2015, followed by a marginal recovery of about 1.5 percent in 2016. Deep reform is needed in the financial sector.

Subject: Banking, Expenditure, External debt, Public and publicly-guaranteed external debt, Public debt, Tariffs, Taxes

Keywords: Banking sector, Banking sector resolution, Cost, CR, Debt service, Eastern Europe, Global, IMF staff estimate, Includes banking sector resolution cost, ISCR, Liquidity injection, Monetary policy stance, Ownership structure, Public and publicly-guaranteed external debt, Tariffs

Publication Details

Pages:

75
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/019
Stock No:

1MDAEA2016001
ISBN:

9781513587684
ISSN:

1934-7685

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