IMF Staff Country Reports

This paper focuses on Moldova’s 2014 Article IV Consultation and First Post-Program Monitoring Discussions. Moldova largely achieved the main objectives of the economic program supported by a combined Extended Credit Facility/Extended Fund Facility (ECF/EFF). The country’s economic performance was among the strongest in the region during 2010–2013. This was made possible by adequate macroeconomic stabilization measures and ambitious structural reforms implemented in the wake of the crisis under the IMF-supported program. The Moldovan economy recovered strongly from the drought-related contraction of 2012, but activity will significantly slow in 2014 owing to a moderation in agriculture production and related industries and weaker economic activity in main trading partners.