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/Editor:

International Monetary Fund. European Dept.

Publication Date:

November 9, 2016

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Country Report No. 16/343

Subject:

English

Publication Date:

November 9, 2016

ISBN/ISSN:

9781475552096/1934-7685

Stock No:

1MDAEA2016007

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

93

Please address any questions about this title to publications@imf.org