Republic of Moldova: Selected Issues

International Monetary Fund

No 2020/077, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper provides a systematic assessment of Moldova’s governance and institutional frameworks. It follows guidelines approved by the IMF executive board, which were developed to deliver systematic and even-handed analysis on macroeconomically critical governance and institutional vulnerabilities. This paper also focuses on seven key areas for IMF engagement: corruption, rule of law, regulatory framework, fiscal governance, financial sector oversight, anti-money laundering/combating the financing of terrorism, and central bank governance. The analysis is based on internationally comparable data, diagnosis from IMF technical assistance reports, as well as other expert assessments. Strengthening the judiciary and rule of law and accelerating state-owned enterprises (SOE) reform are clear priorities. The widespread nature of governance vulnerabilities and institutional weaknesses in Moldova, combined with capacity constraints, creates challenges for policy formulation and prioritization. Policy efforts should therefore focus on strengthening rule of law and reforming Moldova’s judiciary system, as well as building capacity and increasing the autonomy of key institutions. Steadfast SOE reform would foster competition, investment, and productivity, while reducing fiscal risks.

Keywords: ISCR; CR; Moldova; firm; government; IMF staff calculation; IMF governance framework; CFT framework; inflation-targeting regime; judiciary system; discretionary power; revenue institution; Anti-money laundering and combating the financing of terrorism (AML/CFT); Corruption; Global competitiveness; Global; Europe; Tax evasion (search for similar items in EconPapers)
Pages: 20
Date: 2020-03-18
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