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Moldova will join SEPA next week

Moldova will become a full member of the Single Euro Payments Area (SEPA) next week. This was said during a meeting that the president of the National Bank of Moldova, Anca Dragu, held in Brussels with the director general of the European Commission's Directorate General for Economic and Financial Affairs (DG ECFIN), Martin Verwey.
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Moldova will join SEPA next week

Anca Dragoo

According to the National Bank, macroeconomic stability and Moldova’s European integration were the priority topics of discussion. In this context, Anca Dragu presented information on the development of the macroeconomic situation in the financial and banking sector, as well as on the NBM’s priorities in ensuring a sound prudential framework in line with the European standards.

The central topic of the meeting was Moldova’s growth plan in the context of the reforms carried out within the program backed by the International Monetary Fund. The head of the National Bank highlighted the measures taken by the NBM to ensure and maintain price stability, within the efforts to create conditions for a sustainable and competitive economy. The officials also discussed Moldova’s integration into the Single Euro Payments Area (SEPA), which will start operating next week, which will be a concrete step towards the country’s closer integration into the European single market.

In this context, the officials reiterated the importance to implement the recommendations of the EU enlargement package and to assess the compliance of Moldova’s banking prudential system with the EU system, in line with the methodology of the European Banking Authority (EBA).

Anca Dragu emphasized that the support of the Directorate General for Economic and Financial Affairs (DG ECFIN) is crucial for Moldova’s European path. “We aim to strengthen macroeconomic stability, continue reforms and demonstrate that Moldova can become a reliable partner of the European Union. Moldovan citizens want to have the same opportunities and standards as the citizens of the European Community, and the NBM is doing its best to create the necessary conditions for this,” the NBM head said.

The European Commission’s Directorate General for Economic and Financial Affairs (DG ECFIN) is responsible for coordinating economic policies and ensuring fiscal and financial stability in the EU, playing an important role in macroeconomic supervision. With regard to Moldova, DG ECFIN supports the reform process and European integration through economic assessments, technical expertise and macro-financial assistance instruments aimed at strengthening economic stability and accelerating the country’s approximation to EU standards.


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