Moldova might get out of current crisis earlier than rest of Europe, director of IMF European Department says

Chisinau, 13 March /MOLDPRES/ - Director of the European Department at the International Monetary Fund (IMF) Alfred Kammer says that there is possibility for Moldova to get out of the current crisis earlier than the rest of Europe.    

In his statements made at the end of his three-day visit to Chisinau, the official noted that Moldova had been hit by the inflation earlier than the rest of Europe. As a result, the National Bank of Moldova (BNM) took measures of monetary policy earlier than the central banks from the rest of Europe, in order to cease and control the inflation.

„Now, we see that the inflation already decreases in Moldova.  BNM has already afforded to relax the monetary policy, due to the successful fight against the inflation. Nevertheless, the problem of the high inflation persists. We must continue making efforts to this end,’’ the director of the IMF European Department said.

Alfred Kammer also said that, despite the crises faced, the first one in the context of the pandemic and then in the context of the risks for the energy security, Moldova also had made substantial progress in the carrying out of the measures provided for in the programme with IMF.  

„Along with the government, we focused on the reform of the state enterprises’ sector, as well as on the anticorruption efforts, on the budgetary, fiscal and financial governance. All needed measures were undertaken, to a great extent, in time and were implemented successfully,’’ the IMF official added.     

Alfred Kammer for the first time visited Moldova in his capacity of director of the IMF European Department and held discussions with President Maia Sandu, Prime Minister Dorin Recean and BNM Governor Octavian Armasu.  

Photo: BNM