IMF Warns Moldova: Anti-Corruption Efforts Stalled, NBM Independence at Risk

The International Monetary Fund has closely analyzed the resignation of Octavian Armasu, head of the National Bank of Moldova, as well as the departure of Veronica Dragalin, head of the Anti-Corruption Prosecutor’s Office. However, these events have not blocked the IMF’s cooperation with the authorities in Chisinau. This was stated by Alina Iancu, head of the IMF mission in the Republic of Moldova, when answering a question about whether these changes had caused the Fund to be cautious in reviewing its commitments, according to bani.md. The IMF official said that strengthening state institutions and the public policy-making process remains a key priority for the Fund. In the case of the National Bank, recent events have been discussed with the authorities, and additional measures aimed at strengthening the institution’s independence and leadership have been included in the program. “These issues are not limited to obligations under the financing program, they are also constantly reviewed during our technical missions. We analyzed the situation, discussed it with the authorities, and serious commitments were made,” said Alina Iancu, referring to the National Bank of Moldova. With regard to the Anti-Corruption Prosecutor’s Office, the IMF notes uneven progress and uncertainty about the future of this institution. Alina Iancu stressed that the prosecutor’s office is operating with a serious staff shortage and needs adequate human resources to fulfill its mandate. “The institution needs to be strengthened and adequately staffed to operate effectively. This is also reflected in our report. At present, progress in the fight against corruption remains uneven,” the IMF mission chief said.