Chisinau hosts IMF and World Bank Constituency meeting

Chisinau, July 11 /MOLDPRES/- Over a hundred representatives of central banks and finance ministries from member countries of the International Monetary Fund (IMF) and World Bank (WB) Constituency met today in Chisinau to discuss how to maximize the benefits of international cooperation and IMF expertise to achieve economic development goals.

High-ranking officials are taking part in the event: Kenji Okamura, IMF Deputy Managing Director, Paul Hilbers, IMF Executive Director for Moldova, Eugene Rhuggenaath, WB Executive Director for Moldova, Antonella Bassani, World Bank Vice President for Europe and Central Asia and other officials.

Paul Hilbers said "the Republic of Moldova is developing successfully". "It has transformed from a Soviet republic into an independent country with a functioning economy and a resilient currency. All this will develop even further, given that Moldova has entered the EU accession negotiations. The war in Ukraine has had a dramatic impact not only on Moldova, but also on all members of the Constituency. That is why at this meeting we aim to find solutions to overcome this impact", said Paul Hilbers.

In this context, Eugene Rhuggenaath said that Chisinau Constituency meeting "gives us the opportunity to learn not only from the host country, but also from each other". "The Republic of Moldova has demonstrated clear reforms and progress. Moldova has become resilient despite the war in the neighboring country, and now together we need to focus on solutions and innovation", Rhuggenaath said.

Present at the event, President Maia Sandu said "the Republic of Moldova is interested in establishing long-term partnerships with international financial institutions willing to provide the necessary assistance to develop our economy and ensure the welfare of our citizens, especially in times of regional uncertainty".

For his part, Prime Minister Dorin Recean noted that "in a volatile and uncertain environment, we need to find solutions to ensure vigorous and sustainable economic growth". "This meeting is a good and timely opportunity to discuss the major challenges facing the global economy and to identify opportunities to build a sustainable economy for all", he said.

The event is organized by the National Bank of Moldova (BNM) and the Ministry of Finance. BNM Governor Anca Dragu said that the meeting is an opportunity to discuss the continuation of structural reforms, attracting foreign investment and ways to create a competitive and transparent business environment. "We will also discuss how we can maximize the benefits of international cooperation and how we can use the IMF's expertise to achieve our development objectives," the official said.

Finance Minister Petru Rotaru noted that the meeting is a good and timely opportunity to discuss the major challenges facing the global economy and identify opportunities to build a sustainable economy.

The Republic of Moldova has been a member of the Constituency led by Belgium and the Kingdom of the Netherlands since August 12, 2012, together with Andorra, Armenia, Belgium, Bosnia and Herzegovina, Bulgaria, Cyprus, Croatia, Georgia, Israel, Luxembourg, the Republic of North Macedonia, Montenegro, the Kingdom of the Netherlands, Romania and Ukraine.