Fitch Ratings rates Moldova “B+” with a stable outlook, reflecting its economic and financial resilience

2024-10-04 16:17:47

Chisinau, Moldova (OTS) –

Fitch Ratings has given the Republic of Moldova a Long-Term Foreign-Currency Issuer Default Rating (IDR) of “B+” with a stable outlook assigned. This rating underlines the country’s continued commitment to maintaining macroeconomic and financial stability through prudent fiscal policies, credible inflation targeting and a flexible exchange rate regime. These factors, coupled with a resilient banking sector, demonstrate Moldova’s progress in overcoming previous challenges and building a more stable financial environment.

One of the key elements for this rating is the resilience of the Moldovan banking sector. Over the last 10 years, the Republic of Moldova has undertaken a major overhaul of its regulatory standards. Today, the sector remains well capitalized, profitable and has a low level of non-performing loans. These improvements have strengthened the country’s financial system and increased confidence in its ability to withstand economic pressures.

Victoria Belous, Minister of Finance of the Republic of Moldova, emphasized the importance of the rating in strengthening the financial strength of the Republic of Moldova:

“The B+ rating with a stable outlook reflects our efforts to maintain financial stability and prudently manage public debt. It sends a strong signal to investors and confirms the effectiveness of our policies. This rating will open up new financing opportunities and support Moldova’s expansion in international markets.”

Their statement underlines the government’s focus on responsible fiscal management and the rating’s alignment with Moldova’s aspirations to attract international investors.

Dumitru Alaiba, Minister of Economic Development and Digitalization of the Republic of Moldova, also commented on the positive impact of the Fitch rating on the global investment attractiveness of the Republic of Moldova:

“We have been trying to improve our country’s rating for many years. The Fitch Ratings report is an important indicator for financial markets and institutional investors. The better the rating, the more attractive and stable the country is and the lower the financing costs. We act on all reform fronts on which we have influence. I am pleased that our efforts over the last three years are now producing tangible results. We continue to work hard to move forward.”

Moldova’s B+ rating combined with the stable outlook confirms the country’s commitment to economic reforms and financial discipline. By maintaining prudent financial policies and a sound regulatory environment, Moldova is well positioned to take advantage of new financing opportunities. This rating is therefore a milestone for the country, which wants to further expand its presence on international markets and strengthen investor confidence.

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