Moldova Government Bond Yields Rise to 8.05% for Individuals

Yields on government bonds have been raised

Yields on government bonds (VMS) in Moldova are rising compared with previous periods. As part of the announced autumn round of direct subscription for individuals on the eVMS.md platform, the Ministry of Finance offered fixed interest rates ranging from 7.65 per cent to 8.05 per cent per annum. By way of comparison, last autumn the maximum rate on three-year bonds stood at around 7 per cent.

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The current fixed interest rates for the October round are as follows:

1 year – 7.65 per cent per annum (previously 7.45 per cent)
2 years — 7.75 per cent per annum (previously 7.55 per cent)
3 years — 7.85 per cent per annum (previously 7.65 per cent)
4 years — 8.05 per cent per annum (exceeding the 8 per cent threshold for direct subscription by individuals for the first time).

All key terms remain unchanged: the face value of a single bond is 100 lei, coupon payments are made every six months, and the income received is fully tax-exempt.

At standard Ministry of Finance auctions (the primary market via commercial banks acting as primary dealers), the maximum yield on government bonds in autumn 2026 stood at 7.95 per cent per annum.

This rate was set for government bonds with a 5-year maturity (auction dated 12 August 2026 with a fixed rate of 7.95 per cent). Looking at long-term issues admitted to trading on the regulated market, yields on these reach 8.00%–8.10% per annum (for securities with maturities of more than 8–10 years).

As the current rates for direct subscription on eVMS.md for private individuals for the October round have been raised to 8.05 per cent on 4-year bonds, direct purchase without intermediaries currently offers private individuals even more favourable terms than standard bank auctions for similar maturities.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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