IMF Staff Country Reports

Republic of Moldova: Ad Hoc Review Under the Extended Credit Facility; Request for Augmentation and Rephasing of Access, Modification of Performance Criteria, and Completion of the Inflation Consultation Under the Extended Credit Facility and Extended Fund Facility Arrangements-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova

May 13, 2022

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Republic of Moldova: Ad Hoc Review Under the Extended Credit Facility; Request for Augmentation and Rephasing of Access, Modification of Performance Criteria, and Completion of the Inflation Consultation Under the Extended Credit Facility and Extended Fund Facility Arrangements-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Moldova, (USA: International Monetary Fund, 2022) accessed September 19, 2024

Summary

The economy rebounded strongly from the pandemic recession last year while prudent macroeconomic management maintained robust buffers. But the war in Ukraine and the international sanctions imposed on Russia and Belarus have resulted in significant spillovers to Moldova, with implications yet to fully play out. At the outbreak of hostilities, FX market pressures triggered significant foreign currency interventions and bank deposit withdrawals, while dollarization has intensified. Moldova has received the highest per capita inflow of Ukrainian refugees (17 percent of the total population), of which about 100,000 refugees (4 percent of the total population) remain in Moldova. Driven by rising food and energy prices, inflation accelerated further above the target band.

Subject: Debt sustainability analysis, Energy prices, External debt, Inflation, International organization, Monetary policy, Prices, Public debt

Keywords: Authorities' effort, Authorities in Moldova, Balance-of-payment financing requirement, Debt sustainability analysis, Eastern Europe, Energy prices, Europe, General government budget, Global, Inflation, Inflation consultation, Reform commitment

Publication Details

  • Pages:

    108

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2022/140

  • Stock No:

    1MDAEA2022004

  • ISBN:

    9798400210853

  • ISSN:

    1934-7685

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