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Republic of Moldova: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Requests for Waiver of Performance Criterion and Augmentation of Access - Staff Report; Staff Supplement; Press Release on the Executive

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Republic of Moldova: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Requests for Waiver of Performance Criterion and Augmentation of Access - Staff Report; Staff Supplement; Press Release on the Executive

4.85 76,434 ratings · 6,698 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
16325437
Publisher
Not Avail
Publication date
February 6, 2007
Pages
89 pages
Reading Options
PDF · EPUB · Mobi
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International Monetary Fund
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International Monetary Fund writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. International Monetary Fund lives with their spouse and a very vocal rescue cat.

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