Cover IMF Staff Country Reports
Buy Book in Print
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
Author:
International Monetary Fund. European Dept.
Search for other papers by International Monetary Fund. European Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 343
Language:
English
Publication Date:
09 Nov 2016
DOI:
https://doi.org/10.5089/9781475552096.002
ISBN:
9781475552096
ISSN:
1934-7685
Pages:
93
Keywords:
ISCR; CR; government; Moldova; reform agenda; banking reform; shareholder; revenue base; credit portfolio; IMF staff estimate; Fiscal risks; Budget planning and preparation; International reserves; Tariffs; Europe
Download PDF (1.9 MB) Download Epub
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.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund