Republic of Moldova: Third Reviews Under the Extended Arrangement and Under the Three-Year Arrangement Under the Extended Credit Facility, and Request for Modification of Performance Criteria: Staff Report; Staff Supplement; Press Release

International Monetary Fund

No 2011/200, IMF Staff Country Reports from International Monetary Fund

Abstract: The economy is on the right track, and program performance has been good. Fiscal adjustment is on track to restore fiscal sustainability. The adjustment plan appropriately focuses on reducing current spending while increasing investment and protecting the most vulnerable. The current monetary stance is adequate. Completion of the crisis preparedness and debt resolution frameworks will reduce vulnerability to shocks and promote financial intermediation. Progress toward restoring financial sustainability in the energy sector has been slow. Improving the business climate and promoting exports remain key.

Keywords: ISCR; CR; core inflation; debt service; deficit; cost recovery; GDP deflator; debt service indicator; current account; Public and publicly-guaranteed external debt; Currencies; Debt sustainability analysis; Global; Central and Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 70
Date: 2011-07-25
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