A delegation of the National Bank of Moldova (NBM), led by the Governor Anca Dragu, is participating together with the Minister of Finance Petru Rotaru in the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB), which will take place in Washington, USA from 15 to 20 April 2024.
The NBM delegation is scheduled to meet with high-level representatives from the IMF, World Bank, European Commission, EBRD, as well as other institutions and organisations.
The discussions will focus on the development and prospects of the global economy, the promotion of effective monetary policy, structural reforms, measures to ensure financial stability and the resilience of the banking and non-banking financial sector. Among the topics to be addressed are restoring fiscal sustainability, including public debt sustainability, strengthening productivity and growth, implementing the climate agenda, digital currency, FinTech, increasing IMF capital through the implementation of the IMF's 16th General Review of Quotas, reviewing the IMF's financing policies, and strengthening the IMF's capacity to provide support to member states.
The National Bank delegation already held a first discussion with Clara Mira, head of the IMF mission to the Republic of Moldova, during which Anca Dragu presented the macroeconomic developments and prospects of the Republic of Moldova, the performance of the IMF programme, the reform agenda of the central bank to meet the criteria for Moldova's accession to the European Union.
“The effectiveness of banking reform is widely recognised and appreciated, including by our partners and international organisations. At the same time, we are aware of the expectations of the beneficiaries of financial services, especially SMEs, which have the potential to grow the economy. We are also very active in the area of payment services, which we all know are essential for both citizens and businesses. We are also working hard to improve the regulation and supervision of the insurance system. An absolute priority is the European integration, in which the NBM is fully involved”, underlined the NBM Governor Anca Dragu.
In the coming days, the delegation will continue discussions with high-level representatives of the IMF, the World Bank, the European Commission and the EBRD. The delegation will also attend the IMF Constituency meeting, which comprises the Republic of Moldova and 15 other countries from the Benelux region, the Balkan area, Eastern Europe, the Caucasus, Andorra, Cyprus and Israel. The agenda of the visit also includes the participation of the Moldovan delegation in the 10th edition of Moldovan - American Convention, focused on strengthening communication between the authorities and Moldovan communities in the US and Canada.
The spring meetings of the IMF and the World Bank provide a unique opportunity to exchange various countries' experiences and views in the areas of economic development and financial stability in the context of current regional and global developments as well as in the longer term. They are attended by representatives of similar authorities from all countries where the two international organisations are present, as well as by representatives of development partner, entities and organisations.
