International Monetary Fund says Moldovan government makes significant progress on reforms' agenda in financial sector

Chisinau, 15 January /MOLDPRES/ - A document of the International Monetary Fund (IMF) reads that Moldova has made significant progress on the agenda of reforms in the financial sector; yet, there are actions which must be finished.  

At the same time, an IMF experts’ analysis shows that the recovery of the stolen assets has been slow. According to the experts, in late March 2019, the overall value of the recovered assets in form revenues from the liquidation of banks and confiscation of personal convicted assets was significantly under the value of the criminal fines under investigation (3.1 billion lei against 8.7 billion lei).    

Experts consider that the commitment of the Chicu cabinet to improve the governance and fight corruption is welcome and essential for stimulating the economic growth for a long term. The progress for the liquidation of the structural blockages – reducing the bank intermediation, promotion of a friendly environment for business and transparency of energy policies – can stimulate the potential of revenues’ increase.    

According to IMF, the monetary policy should continue focusing on maintaining the stability of prices, in the context of a regime of flexible exchange rate.  

The document on the finishing of IMF’s consultation with Moldova as regards the inflation and the demand to extend the commitments and re-establish the Moldovan state’s access to crediting dates from September 2019.