Expert-Grup: Developing and Modernising the Financial System Must Remain a Priority for the Next Government

Co-author Dumitru Pîntea says conditions are favourable for further reform. Compared with ten years ago, most of the system is controlled by foreign banks or groups with extensive experience, banks are better capitalised, sufficiently liquid and profitable, and inflation is within the target corridor, with low lending rates.

Eugen Ghilețchi points to difficulties: state guarantees created excess liquidity, whose sterilisation costs the National Bank of Moldova enormously; uncoordinated fiscal changes delayed the second IMF tranche; and only 44% of the population has a bank account, while microfinance and leasing grow fast. The recommendations aim to strengthen institutions' ability to mobilise capital, reduce the informal economy through financial inclusion, better payment systems and financial literacy, and protect consumers, support public finances and build international credibility.