The Governor of the National Bank of Moldova (NBM), Anca Dragu, participates in the Meeting of the Governors of French-speaking Central Banks “French-speaking central banks facing new challenges: what are the answers?” held in Brussels from 30-31 May 2024.
The meeting is dedicated to the concerns of French-speaking central banks in the context of continuing geopolitical tensions and the general trend of slowing growth in the world economy. Discussions will focus on recent developments and the outlook for monetary policy, the effects of the tightening of European and US monetary policies on public debt, and the response of central banks to cyber and climate challenges.
In the session focusing on the monetary policy outlook, Anca Dragu referred to the measures taken by the NBM to ensure a return to a downward path of inflation in the Republic of Moldova, the reversal of the restrictive monetary policy stance, and the achievement of the inflation target ahead of other economies in the region:
“At this point, we can look optimistically at Moldova’s economy. The indicators are on a positive trajectory: the inflation rate in April reached 3.51%, which allowed us to reduce the monetary policy rate to 3.6% recently. We have also lowered our minimum reserve requirements. These are elements that give confidence and good prospects to companies and investors in terms of access to financing,” said the NBM Governor.
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A particular topic addressed by Anca Dragu in the discussions at the meeting was the efforts to ensure access to finance and stimulate economic growth:
“We are concerned with the possibilities of extending maturities and the formation of a yield curve that supports financing processes, both domestically and externally. In summary, the macroeconomic framework, government economic policies, and central bank measures are conducive to ensuring economic growth. We support proposals and initiatives to develop the capital market, a favorable ecosystem for business and investment,” said Anca Dragu.
In the margins of the meeting, the Governor of the NBM held separate discussions with the hosts of the event, the Governor of the National Bank of Belgium, Pierre Wunsch, and François Villeroy de Galhau, for collaboration and support in several areas, including EU accession negotiations.
The meeting of French-speaking central banks also brought together the governors of Luxembourg, Tunisia, Cambodia, and the Central African States central banks and representatives of the Bank of Canada and the European Central Bank (ECB).
