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Statement by IMF Deputy Managing Director Kenji Okamura at the conclusion of a visit to Moldova

Press Release No. 22/196
June 14, 2022

Chișinău, Moldova: Mr. Kenji Okamura, Deputy Managing Director of the International monetary Fund (IMF), issued the following statement today in Chișinău at the conclusion of his visit to Moldova:

“My visit to Moldova has been very productive and fruitful, and I am grateful for the warm hospitality of the people of Moldova.

“I wish to thank President Maia Sandu, Prime Minister Natalia Gavrilița, Deputy Prime Minister Andrei Spînu, Finance Minister Dumitru Budianschi, Governor of the National Bank of Moldova Octavian Armaşu, Minister of Labor and Social Protection Marcel Spatari, their teams, and other officials for our constructive and substantive discussions which gave me a better sense of the challenges Moldova is facing.  

“The spillovers from the war in Ukraine and international sanctions on Russia and Belarus, including trade disruptions, higher and more volatile energy prices, and the continued influx of a large number of refugees, have had a significant impact on Moldova and led to increased external financing needs. 

“During my visit, I had the opportunity to engage with refugees from Ukraine and better understand their difficult situation. I have visited several parts of the country and witnessed the generosity of the people of Moldova and their warm hospitality to the refugees which deserve high praise. I call on the international community to continue supporting Moldova’s integrative approach to refugees and its efforts to forge ahead with reforms, while dealing with a series of crisis.

“I commended the Moldovan authorities for their prudent fiscal and monetary policies and swift response to the spillovers from the war in Ukraine and inflation. In my discussions, I welcomed the authorities’ strong ownership of their ambitious governance reform agenda and their transparent response to the energy crisis. These reforms are critical to improve fostering inclusive and sustainable growth.

“On May 11, the IMF Executive Board approved additional financial assistance to Moldova to help your country address the challenges resulting from the war in Ukraine, catalyze additional external financing, and provide needed support to the most vulnerable. The IMF will remain supportive of Moldova’s ongoing efforts to improve living standards of your people.”