Programme on state debt management for 2020-2022 to be published in Official Journal of Moldova

Chisinau, 20 February /MOLDPRES/ - The programme on the medium-term state debt management (2020-2022), approved by the government on 5 February, is to be made public in the Official Journal (Monitorul Official) of Moldova on 21 February.  

The document represents a continuation of the programme, Medium Term State Debt Management (2019-2021), which was revised for the period 2020-2022, in line with the macroeconomic indexes which stayed at the basis of the elaboration of the State Budget Law for 2020.

„For medium and long term, Moldova will explore less and less opportunities of financing in concessional and semi-concessional conditions and they are to be replaced by financing at market costs, respectively, higher ones. In the process of managing the state debt, decision-makers should take into account that this might lead to the appearance of new risks or to the toughening of the present ones. The programme is focused on the description of the strategy of financing the balance (deficit) of the state budget and on identifying the related cost and risk factors,” the government decision reads.   

At the same time, the programme establishes the fundamental goal of the process of state debt’s management, specific objectives, as well as the actions due to be undertaken by the authorities to ensure the financing and improve the structure of the state debt’s portfolio and their implementation will not create pressures on the sustainability of the fiscal policy on the whole.  

The document was made in accordance with the good international practices defined in the Guidelines of the World Bank and the International Monetary Fund as to the working out of the medium term debt strategies, with the use of the Medium Term Debt Management Strategy Analytical Tool.