IMF Publications on Moldova

Use Adobe Acrobat Reader to view PDF files

2019
Title: Improving the Efficiency and Equity of Public Education Spending: The Case of Moldova
Author/Editor: Hui Jin; La-Bhus Fah Jirasavetakul; Baoping Shang
Publication Date: February 26, 2019
Series: Working Paper No. 19/42
Summary: This paper, using Moldova as an example, presents a systematic approach to assess the efficiency and equity of public education spending, identify sources of inefficiencies and inequality, and formulate potential reform options. The analytical framework combines international benchmarking with country-specific analysis—such as microeconomic analysis based on household survey data—and can provide important insights into diagnosing and reforming education systems. The analysis finds significant scope to improve both efficiency and equity of the education sector in Moldova. Potential reform measures include further consolidating the oversized school network, reducing overstaffing, and better targeting government subsidies. The current remuneration policy could also be improved to attract high quality teachers and incentivize performance.
Full Text in PDF format.  

2018
Title: Republic of Moldova: Technical Assistance Report-Public Sector Debt Statistics
Author/Editor: International Monetary Fund. Statistics Dept.
Publication Date: October 3, 2018
Series: Country Report No. 18/281
Summary: In response to a request from the European Department, a Public-Sector Debt Statistics (PSDS) technical assistance (TA) mission was conducted in Chisinau during April 2–6, 2018. With the objective of improving Moldovan public sector debt statistics, the mission conducted an evaluation of data comprehensiveness in terms of: (i) institutional coverage; (ii) instrument coverage, including maturity structures; (iii) valuation of debt liabilities; and; (iv) additional fiscal risks resulting from contingent liabilities (on-lending and guarantees). Like the recent article IV mission1 and Public Finance Management (PFM) assessment,2 the mission found that Moldova continues to improve their recording, compilation and dissemination of public sector debt statistics reflecting potential fiscal risks, but faces five main statistical challenges going forward.
Full Text in PDF format.  

2014
Title: Fragmentation and Vertical Fiscal Imbalances Lessons from Moldova
Author/Editor: Serhan Cevik
Series: Working Paper No. 14/233
Summary: Using a novel municipality-level panel dataset, this paper investigates the empirical characteristics of vertical fiscal imbalances (VFIs) in Moldova over the period 2005–13. The results show that the extent of variation in VFIs across 898 municipalities can be explained by the level of per capita income, fiscal capacity, and demographic characteristics, as well as the central government’s fiscal behavior that reflects fiscal constraints and policy preferences at the national level. Political affiliation does not appear to be a significant factor, and the results are inconclusive in terms of direction. While some model specifications show larger VFIs when the mayor of a municipality belongs to the same party ruling the central government, other models suggest better coordination and thus lower VFIs. Altogether, these findings underscore the need for well-coordinated reforms to create economies of scale, enhance revenue collection, and improve the composition of spending at the subnational level.
Full Text in PDF format.  

2014
Title: 25 Years of Transition: Post-Communist Europe and the IMF
Series: Regional Economic Issues Special Report, October 2014
Summary: The past 25 years have seen a dramatic transformation in Europe's former communist countries, resulting in their reintegration into the global economy, and, in most cases, major improvements in living standards. But the task of building full market economies has been difficult and protracted. This report covers the European transition economies of Central and Eastern Europe, up to Belarus, Moldova, Russia, and Ukraine among the former Soviet republics.
Full Text in PDF format.  

2012
Title: Moldova - Technical Assistance Report on Taking Compliance Management Further
Author/Editor: Policy Paper
Summary: This report concerns the delivery of a tax administration mission to Moldova during February 8 – 21, 2012 by the Fiscal Affairs Department (FAD) of the IMF as a component of implementing FAD's technical assistance strategy for Southeast Europe.
Full Text in PDF format.  

2012
Title: Fiscal Policy Response to External Crises The Case of Moldova 1998-2010
Author/Editor: Qehaja, Driton
Summary: External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through large fiscal adjustments during these crises and launched important fiscal reforms. The paper reviews the crises and reform experience. In particular, it aims to explain the motivation for reforms, describe reform design and implementation, and provide an understanding of their outcomes. The paper also catalogues the form and size of international assistance for Moldova.
Full Text in PDF format.  

2001
Title: Armenia, Georgia, Kyrgyz Republic, Moldova, and Tajikistan:
External Debt and Fiscal Sustainability
Author/Editor: Jointly Prepared by the European II Department of the IMF and the
Europe and Central Asia Region of the World Bank
Subject: This paper examines the debt situation in the five CIS countries that are eligible for PRGF and IDA only. It describes the size and composition of the debt and the key factors that have led to its rapid accumulation in recent years.
Contents  
Full Text in PDF format.  

1999
Title: Fiscal Federalism and Government Size in Transition Economies - The Case of Moldova
Author/Editor: de Mello, Luiz; Fiscal Affairs Department
Series: Working Paper WP/99/176
Subject: Revenues;Moldova;Government expenditures
Full Text in PDF format.  

1998
Title: Government Expenditure Arrears - Securitization and Other Solutions
Author/Editor: Ramos, Alberto; Western Hemisphere Department
Series: Working Paper WP/98/70
Subject: Payments arrears;Argentina;Armenia;Azerbaijan;Belarus;Georgia;Kazakhstan;Kyrgyz Republic;Latvia;Cameroon;Moldova;Russian Federation;Tajikistan;Turkmenistan
Full Text in PDF format.

1994
Title: Monitoring Financial Stabilization in Moldova: The Role of Monetary Policy, Institutional Factors and Statistical Anomalies
Author/Editor: Haley, James;Shabsigh, Ghiath;European II Department
Series: Papers on Policy Analysis and Assessments PPAA/94/25
Subject: Fund-supported adjustment programs;Moldova;Inflation;Monetary policy
Full Text in PDF format.