Since May 2022, the volume of external assistance received by Moldova’s public sector increased significantly compared to the first quarter of the year. According to the statistics published by the NBM, the public sector (Government, NBM, local public authorities, public corporations) received external loan disbursements of USD 25 million in the first quarter of 2022, while making repayments (USD 39 million) that exceeded the amount of new loans obtained.

The state also received grants and external technical assistance worth USD 30 million in the first quarter of 2022. According to Expert-Grup estimates based on the reports released by the NBM, the Ministry of Finance and the EU Delegation to the Republic of Moldova, between April and mid-August 2022, the public sector received disbursements of external loans and grants in the total amount of about USD 327 million  (IMF loans – USD 144 million, EU grant for budget support – USD 76 million, EU loan under macro-financial assistance – USD 36 million, a loan from the Government of Poland – USD 20 million, IDA loans – USD 9 million, EU      grant under macro-financial assistance – USD 15 million, other loans and grants for investment projects – USD 27 million) (Figure 1). Thus, by mid-August 2022, the external public debt is estimated to have reached USD 2,855 million, which is about 20-21% of GDP, far from the critical limit of 55%.

Figure 1. Reimbursable and non-reimbursable external assistance received by the public sector of the Republic of Moldova, USD million

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The publication was produced by the Independent Think-Tank ‘Expert-Grup’ and the Institute for Strategic Initiatives as part of the ‘Socially Responsible Management of External Financing’ project with the support of the Soros Foundation Moldova