The National Bank of Moldova (NBM) has started the process of financial sector assessment in cooperation with the IMF and the WB
According to the report of the National Bank, the first part of the mission of the Financial Sector Assessment Program - FSAP, implemented in cooperation with the IMF and the World Bank at the request of the National Bank of Moldova, took place recently. The FSAP program provides for an in-depth and objective analysis of the quality of regulation and supervision of the banking system, conducting stress tests for Moldovan banks, assessing the ability to manage crisis situations and analyzing how the financial system supports access to finance for small and medium-sized enterprises, as well as for other important sectors of the economy. The assessment process consists of several phases, the first of which consists of identifying the areas to be covered by the program. The following missions will analyze in detail the situation in the financial sector, and the results will result in a report that will be subject to approval by the IMF and WB Boards. “Through this assessment, the National Bank of Moldova aims to obtain a clear and objective picture of the efficiency of the financial system. This will contribute to identifying opportunities for reforming the sector, implementing international standards, such as the Basel III principles, and strengthening the ability to respond to economic challenges,” NBM Vice-Governor Tatiana Ivanicichina said. According to her, the completion of the FSAP program will contribute to strengthening the NBM's capacity to manage financial risks and promote economic stability. At the same time, the IMF and WB assistance will contribute to promoting economic reforms, improving the quality of life of citizens and creating a favorable environment for long-term sustainable development. // 10.02.2025 - InfoMarket.
