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Law > Business and Financial

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Moldova, Republic of x
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Cover Technical Notes and Manuals
Resolving Opaque Bank Ownership and Related-Party Exposures
Edda R Karlsdóttir
,
Rachid Awad
,
Ender Emre
,
Alessandro Gullo
,
Aldona Jociene
, and
Constant Verkoren
This note intends to provide advice to bank supervision and resolution authorities and policymakers seeking to deal with opaque bank ownership or significant overhang of related-party exposures.
Keywords:
bank Ownership structures; bank Ownership transparency; IMF Library; bank owner; related-party transaction; Basel Core Principles; Anti-money laundering and combating the financing of terrorism (AML/CFT); Bank resolution; State-owned banks; Global
Cover IMF Staff Country Reports
Republic of Moldova: Technical Assistance Report-Financial Sector Stability Review
International Monetary Fund. Monetary and Capital Markets Department
The mission conducted a diagnostic review of the financial system and proposes a Technical Assistance Roadmap (TARM) to support the authorities’ efforts to strengthen their detection of risks and vulnerabilities and to enhance capacity in financial sector oversight and development. Two modules were undertaken during this FSSR mission. The financial stability module focused on areas agreed with the NBM and NCFM during the scoping stage: financial sector oversight, financial stability (macroprudential framework, systemic risk assessment, and stress testing), financial crisis management, financial inclusion and capital markets development. The financial sector statistics module focused on key data gaps hampering financial stability analysis as well as statistical reporting to the IMF’s Statistics Department.
Keywords:
C. financial crisis management; capital markets development; TA country manager; capital markets statistics; request of the National Bank of Moldova; Capital markets; Financial sector stability; Stress testing; Europe
Cover IMF Staff Country Reports
Republic of Moldova: 2021 Article IV Consultation and Requests for an 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
International Monetary Fund. European Dept.
The 2016–20 ECF/EFF helped rehabilitate Moldova’s banking sector, bolstering macro-financial stability. However, the COVID-19 pandemic, drought in 2020, and the ongoing surge in global energy prices, have slowed economic activity, intensified downside risks, and complicated policy making. While emergency financial assistance under a blended RCF/RFI (100 percent of quota) and SDR allocation (US$236 million) helped cushion the pandemic’s impact, Moldova remains among the poorest countries in Europe with long-standing governance and structural weaknesses inhibiting income convergence.
Keywords:
inflation targeting framework; governance diagnostics summary finding; authorities' policy platform; policy mix; EFF arrangement; expenditure policy; Policy discussion; Stress testing; Debt sustainability analysis; Global; Eastern Europe; Europe
Cover IMF Staff Country Reports
Republic of Moldova: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper provides a systematic assessment of Moldova’s governance and institutional frameworks. It follows guidelines approved by the IMF executive board, which were developed to deliver systematic and even-handed analysis on macroeconomically critical governance and institutional vulnerabilities. This paper also focuses on seven key areas for IMF engagement: corruption, rule of law, regulatory framework, fiscal governance, financial sector oversight, anti-money laundering/combating the financing of terrorism, and central bank governance. The analysis is based on internationally comparable data, diagnosis from IMF technical assistance reports, as well as other expert assessments. Strengthening the judiciary and rule of law and accelerating state-owned enterprises (SOE) reform are clear priorities. The widespread nature of governance vulnerabilities and institutional weaknesses in Moldova, combined with capacity constraints, creates challenges for policy formulation and prioritization. Policy efforts should therefore focus on strengthening rule of law and reforming Moldova’s judiciary system, as well as building capacity and increasing the autonomy of key institutions. Steadfast SOE reform would foster competition, investment, and productivity, while reducing fiscal risks.
Keywords:
ISCR; CR; Moldova; firm; government; IMF staff calculation; IMF governance framework; CFT framework; inflation-targeting regime; judiciary system; discretionary power; revenue institution; Anti-money laundering and combating the financing of terrorism (AML/CFT); Corruption; Global competitiveness; Global; Europe; Tax evasion
Cover IMF Staff Country Reports
Republic of Moldova: Financial System Stability Assessment: Update
International Monetary Fund
This paper discusses key findings of the Financial System Stability Assessment (FSSA) on Moldova. The assessment reveals that vulnerabilities of the financial sector appear to be manageable. Stress tests on likely scenarios do not indicate major vulnerabilities for the banking system as a whole. Since the 2004 Financial Sector Assessment Program, the National Bank of Moldova (NBM) has made progress in identifying bank owners, an issue then flagged as a major vulnerability, but other financial supervisors have been considerably less successful in this respect.
Keywords:
ISCR; CR; NBM; bank; interest rate; market; NBM Law; NBM certificate; transmission mechanism; NBM supervisor; payment system infrastructure; settlement bank; Core principle; NBM's bank; bank supervisor; NBM regulation; system infrastructure; Commercial banks; Payment systems; Insurance; Nonperforming loans; Western Europe; Global