Jarocinski, Marek - CASE-Center for Social and Economic Research - 2000
After stabilization in 1993 Moldova maintained an unsustainable macroeconomic policy mix. The key problem was a lack of … a fiscal adjustment, which resulted in large budget deficits. At the same time, the National Bank of Moldova (NBM … exceeded income and the country has been running large Current Account deficits. Moldova had an access to international …