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Republic of Moldova: 2002 Article IV Consultation, First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria--Staff Report; Public Information Notice and News Brief on t...

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Republic of Moldova: 2002 Article IV Consultation, First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria--Staff Report; Public Information Notice and News Brief on t...

4.85 92,227 ratings · 1,723 reviews
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Overview: 1. Moldova experienced strong growth over 2006-08, accompanied by signs of overheating. Growth averaged 5 percent, boosted by remittances and foreign investment. Buoyant domestic demand, however, pushed the current account deficit to 17 percent of GDP and generated inflation pressures. These pressures, together with large inflows, resulted in substantial appreciation of Moldova's real effective exchange rate (REER). Monetary policy kept real interest rates low despite double-digit inflation (Figure 1). Although fiscal policy maintained a small headline budget deficit under the IMF PRGF-supported program, it grew increasingly procyclical, with the estimated structural balance deteriorating from a small surplus in 2005 to a deficit of over 4 percent of GDP by 2008.

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ISBN
16325533
Publisher
Not Avail
Publication date
August 26, 2002
Pages
73 pages
Reading Options
PDF · EPUB · Mobi
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International Monetary Fund
About the Author
International Monetary Fund
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International Monetary Fund is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, International Monetary Fund enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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