The National Bank of Moldova (NBM) recently completed the second stage of the Financial Sector Assessment Program (FSAP 2025), carried out at its request, in cooperation with the International Monetary Fund (IMF) and the World Bank.
The FSAP 2025 is a detailed assessment of the national financial system to support authorities in preventing risks and ensuring the sustainable and stable development of the financial sector, as well as the institutional, regulatory, and supervisory framework.
The exercise targets the banking, capital market, insurance, and non-bank lending sectors and includes macro-financial risk analysis, stress testing of the system's resilience, assessment of crisis management capacity, interinstitutional cooperation, as well as aspects related to financial inclusion and access to finance.
During the diagnostic mission, carried out between April and May 2025, IMF and World Bank experts met with representatives of national authorities, financial institutions, and other relevant stakeholders.
"The completion of this phase brings us closer to a key goal: obtaining a clear, objective, and thorough perspective on the performance of the financial sector. The exercise carried out contributes significantly to strengthening the stability of the system and aligning it with international best practices and standards. The joint efforts of our partners and the NBM team support the development of a stable, predictable economic environment focused on the well-being of citizens," stated NBM Governor Anca Dragu.
The FSAP 2025 is structured in three stages: pre-assessment, carried out between January and February 2025, during which the areas of analysis were established; the diagnostic mission, recently completed, focused on data collection and detailed assessment; and the final stage, which will include the formulation and presentation of conclusions to the national authorities.
The implementation of the FSAP will strengthen the National Bank of Moldova's capacity to identify, assess, and effectively manage financial risks, thereby contributing to the maintenance of the country's economic and financial stability. At the same time, the support provided by the International Monetary Fund and the World Bank will create the necessary conditions for promoting structural reforms, improving the institutional framework, and enhancing the quality of life of citizens. This cooperation will facilitate the development of a predictable and investment-friendly economic environment, with a positive impact on long-term sustainable development.