The National Bank of Moldova published a statement welcoming the International Monetary Fund (IMF) Executive Board’s conclusions from the 2025 Article IV consultation with Moldova, which reaffirm the central bank’s credibility and the effectiveness of its monetary policy. The IMF assessment points to the National Bank of Moldova’s prompt response to inflationary pressures linked to the 2025 energy shock and notes that inflation returned in 2026 to the central bank’s target band of 5% ± 1.5 percentage points. The IMF also underscored the importance of keeping monetary policy conditioned on developments in inflation and economic growth. On financial stability, it assessed Moldova’s banking sector as solid and credited supervisory and macroprudential measures for supporting stability, while highlighting the need for close monitoring of risks related to credit growth and real estate market developments and continued strengthening of the regulatory and supervisory framework. The conclusions encouraged further reinforcement of central bank independence and governance and highlighted the importance of maintaining exchange rate flexibility and adequate foreign exchange reserves to absorb potential shocks.
National Bank of Moldova 2026-03-02
National Bank of Moldova welcomes IMF Article IV conclusions citing inflation back within the 5% ± 1.5 percentage point target and a solid banking sector
The National Bank of Moldova welcomed the IMF Executive Board’s conclusions from the 2025 Article IV consultation, affirming the central bank's credibility and effective monetary policy. The IMF noted Moldova's prompt response to the 2025 energy shock, with inflation returning to the target band of 5% ± 1.5% in 2026. It emphasized the need for continued monitoring of credit growth and real estate risks, reinforcing central bank independence, and maintaining exchange rate flexibility.