Moldova needs to boost financial intermediation, develop the capital market and private pension system - Anca Dragu.
Governor of the National Bank of Moldova (NBM) expressed this opinion while speaking at the international conference on regional and global finance, organized by the Bank of Slovenia and the International Monetary Fund in the Slovenian city of Portorož. The conference was attended by senior IMF officials and central bank governors from the Central, Eastern and Southeastern European (CESEE) region, who addressed the topics of the current state of financial systems in the region and strengthening their contribution to economic development. The special guest of the event was the Director of the IMF's European Department, Alfred Kammer, who spoke about inflation trends and monetary policy issues in the region and globally. The sessions emphasized the critical role of the financial sector in supporting CESEE economies. Despite notable progress, business and investment financing in these countries has a more moderate dynamic compared to other EU countries and the US. The potential of the capital market is underutilized and the participants of the event emphasized the need for its development and diversification through more active cooperation and exchange of experience and best practices among the countries of the region. In this context, Anca Dragu stressed the need to boost financial intermediation, develop the capital market and the private pension system, so that the access to finance improves and Moldovan citizens have alternatives for financing and saving. In addition, Governor of the National Bank emphasized the importance of international and regional cooperation in order to improve access to capital markets and financial innovations. Within the framework of the conference, a business lunch of the heads of the central banks from the region and IMF representatives took place, dedicated to the presentation of the latest developments in the European currency area. Governor of the National Bank of Moldova had a conversation with the host of the event, the Governor of the Bank of Slovenije, Boštjan Vasle. Anca Dragu also held talks with the Governor of the Central Bank of Montenegro, Irena Radović. In addition to senior IMF officials and central bank governors from the region, the Portorož event brought together leaders and experts from numerous international organizations - the European Commission, the European Banking Authority (EBA), the European Bank for Reconstruction and Development, the European Investment Bank, the Organization for Economic Cooperation and Development (OECD), and representatives of public administration, academia, and private financial and consulting firms. // 21.05.2024 – InfoMarket
