IMF lends USD 558 million to Moldova

RUSSIA / FSU POLITICS - In Brief 23 Dec 2021 by Alex Teddy
On December 21 the announcement was made that the loan will be given to help the country lift its economy out of the pandemic-driven trough. USD 80 million of the loan was released on the day of the announcement. This is a badly needed cash injection. Moldova is 44th out of the 45th European economies in terms of its GDP per capita. The country has faced problems such as a drought in 2020 that impacted its large agricultural sector. Energy prices hit the country, which imports all its energy. Moldova had to pay USD 79 million to Gazprom for gas in November 2021. The country only just managed it with great difficulty.The IMF applauded Moldova for making headway with its goal of cleaning up banking and improving its macro-financial stability.The President of Moldova is Maia Sandu. She is a Harvard-educated former World Bank economist. Sandu wants her country to join the EU and has vowed to tackle endemic corruption. Moldova borders Ukraine and Romania. The population is bifurcated between Russian speakers who wish to be aligned to Russia and Romanian speakers who wish to accede to the EU. Romania grants citizenship to all Moldovans who want it. For centuries Moldova changed hands between Romania and the Russian Empire.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.