According to the NBM data, the decrease in reserves was primarily due to the depreciation of the bi-currency basket. The depreciation of the dollar against the euro devalued assets by 123.15 million euros. The decrease by about 60 million euros was caused by payments for external debt servicing and the outflow of mandatory bank reserves.
The value of assets was somewhat balanced by the net inflow of funds to the accounts of the Ministry of Finance in the form of partner budget support. A grant of €30 million from the European Commission (tranche no. I, concerning the Financing Agreement between the Government of the Republic of Moldova and the EC regarding the contract for the implementation of the sectoral reform). Also, a grant from the Government of Estonia (EUR 0.05 million).
Loans for investment projects have also started to arrive – the Ministry of Finance registered 8.44 million euros of credit funds in April. Income from the management of foreign exchange reserves amounted to EUR 13.50 million.
Official foreign exchange reserves decreased by a total of €200 million in Q1 2025 (€5.484 million at the end of 2024). The reasons for the decrease are the same – servicing of external debt obligations, the depreciation of the US dollar against the Euro and insignificant external loans and grants.
