Hidden Bibliographic Details
| Varying Form of Title: | Request for an extended arrangement under the extended Fund facility and an arrangement under the extended credit facility; press release; staff report; and statement by the Executive Director for the Republic of Moldova
Title on IMF website: Republic of Moldova : request for an extended arrangement under the extended Fund facility and an arrangement under the extended credit facility; press release; staff report; and statement by the Executive Director for the Republic of Moldova
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| Other authors / contributors: | International Monetary Fund, issuing body.
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| ISBN: | 9781475552096
1475552092
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| Notes: | "November 2016."
Includes bibliographical references.
Description based on online resource; title from pdf title page (IMF website, viewed November 30, 2016).
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| Summary: | Since late 2014, Moldova's economy has been hit by a number of domestic and external shocks. Chief among them is the exposure of extensive and well-orchestrated fraud in the banking system, resulting in the closure of three banks at a public cost of 10 percent of GDP. During the following period, confidence collapsed, external concessional financing largely froze, and international reserves fell by one-third, prompting significant tightening of monetary conditions. Domestic political turmoil, marked by three changes in government, constrained solutions and delayed collaboration with the international community on possible financial support.
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