08.10.2008 - IDIS think-tank: IMF
Resident Representative in Republic of Moldova speaks to young leaders about
main economic challenges
IMF Resident Representative in Republic of Moldova Johan Mathisen was the guest
of a public debate, organized by IDIS “Viitorul”, in partnership with the
Friedrich Ebert Foundation, on October 8, 2008. By bringing together young
leaders and senior foreign representatives, IDIS “Viitorul” encourages youth to
come to a closer understanding of the present situation in Moldova.
MOCANU Ghenadie )
Johan Mathisen: Moldova's real sector likely to be stricken by world
financial crisis if latter worsens
The permanent resident of the International Monetary Fund to Chisinau,
Johan Mathisen, told a round table on Wednesday that a possible world
financial crisis is likely to affect Moldova, and it will be felt by
lower demand for Moldovan goods, but also through drops in foreign
“If the foreign companies have financial problems, there are big chances
that they will not be able to invest,” he said.
According to Johan Mathisen, in the wake of a possible world financial
crisis, the immigrant workers will also have to suffer, as they will not
find jobs since the construction and services sectors will slow down
their operating, as these sectors are the most demanded on the labor
The Moldovan currency and banking sectors have small changes to be
affected by a possible world financial crisis.
“There is a very low potential for a crisis in Moldova's currency
system, since the National Bank has got enough currency reserves to keep
the local currency market stable. No bank crisis is likely to appear in
Moldova, since the Moldovan banking system started to integrated into
the international circuit but recently, as the Moldovan banks have extra
liquidity,” Johan Mathisen specified.
The fact that the Moldovan banking sector is not coping with any crisis
is proved by the growth of the loans offered – up 4.3 billion lei – what
is 21.7%, says first deputy governor of the National Bank Victor
According to him, two weeks ago, the Central Bank decided to lower the
basic rate and the norm of compulsory reserves by 1.5 percentage points,
what is thought to trigger smaller interests for deposits and credits.