Vyacheslav Ionitsa
However, this increase has a limited impact on Moldova, given that the state does not have access to international capital markets, economist Veaceslav Ionitsa told a Moldovan TV channel.
He explained that this rating is relevant only for countries that actively borrow on financial markets.
“The rating is necessary if you borrow funds on the capital markets, but in practice we are not one of them. Moldova borrowed funds only once, in the 1990s,” Ionita said.
According to him, Moldova is currently perceived as a high-risk area, which makes it difficult to access external financing through classical markets.
“We are in a high-risk zone. In fact, we cannot access capital markets,” the economist emphasized.
In addition, Ionice believes that loans on international markets would be too expensive for Moldova, with interest rates estimated at 7-8% in foreign currency, compared to the much cheaper financing offered by external partners.
“It makes no sense to take loans at 7-8% in foreign currency when we can get money from the European Union or other development partners at about 2%,” he said.
It should be recalled that Prime Minister Alexandru Munteanu declared 2026 “the year of responsible investments”. At the same time, more than 60% of the money the government hopes to borrow on domestic or foreign markets will be used to support the budget.
According to the Finance Ministry, the country’s external debt reached $4.86 billion at the beginning of 2026, while the domestic debt exceeded 53.9 billion lei, and both indicators are steadily growing.
