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

January 4, 2022

Summary

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.

Subject: Debt sustainability analysis, External debt, Financial regulation and supervision, Financial sector policy and analysis, International organization, Monetary policy, Public debt, Stress testing

Keywords: authorities' policy platform, Debt sustainability analysis, Eastern Europe, EFF arrangement, Europe, expenditure policy, Global, governance diagnostics summary finding, inflation targeting framework, Policy discussion, policy mix, Stress testing

Pages:
129
Volume:
2022
DOI:
https://doi.org/10.5089/9781616357382.002
Issue:
001
Series:
Country Report No. 2022/001
Stock No:
1MDAEA2022001
ISBN:
9781616357382
ISSN:
1934-7685

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