13.10.2013

NBM OFFICIALS AT THE IMF/WB ANNUAL MEETINGS

On 11-13 October 2013, the Governor of the National Bank of Moldova, Mr. Dorin Dragutanu
and the First Deputy Governor, Mr. Marin Molosag, attended the annual meetings of the
International Monetary Fund and World Bank held in Washington, as the Governor and
Alternate Governor of the IMF for the Republic of Moldova. Minister of Finance of the Republic
of Moldova, Mr. Anatol Arapu, had also attended the meetings.

The forum in question brought together governors of central banks, ministers of finance and
development, representatives of private sector and civil society and the academic community.
In this context, NBM officials had a series of bilateral meetings with senior representatives of
these and other international financial institutions on some regional and global macroeconomic
approaches.

Thus, the discussions with Mr. Christian Mulder, Senior Manager of the Reserve Advisory
Management Program of the World Bank, referred to the management of foreign exchange
reserves in terms of volatility in global financial markets, particularly determined by the U.S.
budget difficulties.

The meeting with the First Vice President of the EBRD, Mr. Phil Bennett, focused on two topics:
the financial stability of the banking sector and the prospects for cooperation of EBRD with
Moldovan banks, in the context of lack of transparency in shareholder structure and possible
limitations of the NBM in fulfilling its duties.

The dialogue with Moldova's Executive Director in the IMF, Mr. Menno Snel, included the
future prospects in the negotiations for a new program between the IMF and the Republic of
Moldova.

The discussion with the Director of the European Department at the International Monetary Fund
(IMF), Mr. Reza Moghadam, was focused on macroeconomic developments in the Republic of
Moldova, in the context of slow recovery and macroeconomic tensions in the region and
globally.

The meeting with the IMF Deputy Managing Director, Ms. Nemat Shafik, addressed the need for
further structural reforms to ensure macroeconomic balance in the Republic of Moldova and the
need for the creation of necessary conditions for sustainable economic growth.

The IMF/WB Annual Meetings offer the member states delegates the opportunity to exchange
ideas on issues of macroeconomic development and cooperation in this respect between senior
representatives of different socio-economic segments in the world.
 

Press service
of the National Bank of Moldova