International agency improves Moldova's rating from negative to stable

Chisinau, 14 January /MOLDPRES/ – The financial rating agency Moody's improved, on 13 January, the rating perspective outlook B3 of the country for Moldova from negative to stable, with reference to the international company press release.

Moody's revised the rating due to "risk reduction of government funding" after signing the agreement with the International Monetary Fund (IMF), "that triggered additional multilateral and bilateral funding" and "adoption of the new banking regulatory framework designed to strengthen the governance of the banking system."

The arguments advanced by rating agency to B3 confirmation "reflects the calmer political environment after several changes of government leadership in 2014 – 15," when a bank fraud led to the sharp increase in government debt. On the other hand, Moody's notes that the Moldova's rating for the country remains significantly limited by high levels of poverty, low economic base, structural impediments to growth and very weak institutional power of the country.

Prime Minister Pavel Filip wrote on a social network that "international agency Moody's, which is a very important compass for foreign investors, changed country rating for Moldova from "B3 Negative" to "Stable". Specialists in economy, especially, know how important and encouraging news is also for our country. It is the direct result of the efforts that we in Government and colleagues from the Parliament, and all Moldovan citizens have made to overcome an economic crisis and a difficult policy."

"It is the result of the fulfillment, in 2016, of the EU Roadmap, start of major reforms and signing agreements with IMF and the World Bank. It is an encouraging sign for 2017. I further expect that in the future Moldova will receive positive ratings from every countryman, who will feel that living is better, from year to year, in this country," the prime minister wrote.

(Reporter V. Bercu, editor M. Jantovan)