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13.03.2023

Director of the European Department of the International Monetary Fund: The NBM could ease its monetary policy stance due to the successful fight with inflation

 

A discussion with Mr. Alfred Kammer, Director of the European Department of the IMF, by Ms. Liliana Barbăroşie
for Privesc.EU, Realitatea TV and State TV "Moldova 1"


The Director of the European Department of the International Monetary Fund (IMF), Mr. Alfred Kammer, claims that there is a possibility that the Republic of Moldova will emerge from the current crisis earlier than the rest of Europe. In the statement made at the end of his three-day visit to Chisinau, Mr. Alfred Kammer, noted that the Republic of Moldova was affected by inflation earlier than the rest of Europe, therefore the National Bank of Moldova took monetary policy measures earlier than the central banks in the rest of Europe, in order to stop and to tame inflation.

“We see now headline inflation coming down in Moldova already. And we saw already that the National Bank of Moldova could ease its monetary policy stance because of the successful fight with inflation. Inflation is not over. We need to sustain that effort”, the Director of the European Department of the IMF stated.

Mr. Alfred Kammer mentioned that despite the crises, the Republic of Moldova faced, first in the context of the pandemic and then in the context of risks for energy security, it has also achieved substantial progress in implementing of the measures provided for in the IMF program.

“We were focusing with the government on state-owned enterprise reform, importantly also on anti-corruption efforts, on the fiscal and financial governance. All of those were undertaken mostly in time and were implemented successfully,” the IMF official added.

Alfred Kammer visited the Republic of Moldova for the first time as Director of the European Department of the IMF, having discussions with the President of the Republic of Moldova, Maia Sandu, the Prime Minister Dorin Recean, the Governor of the National Bank of Moldova, Octavian Armașu.