IMF notes certain deficiencies in statistics

The International Monetary Fund (IMF) identified certain deficiencies in national statistics. According to IMF Assessment Report, made in the context of the Agreement with Moldova, the statistic of the labor force market is still inappropriate for exploring macroeconomic changes. It means the lack of data on unemployment according to International Labor Organization methodology, as well as non-inclusion in wages of additional benefits, which represent an important part of workers’ payment. In IMF experts’ opinion, data on prices also has certain lacks. „Data on prices collection is geographically limited”, according to the report. In the report is mentioned that, in spite of certain recommendations of the Mission in the field of fiscal statistic, it continues to be calculated as before. IMF recommendations regard the re-classification of data concerning the finance on type of debtor or type of instrument debt, reporting by Ministry of Finance on monthly fiscal data based on accounts open in the National Bank of Moldova IMF Statistic Department. As regards the national accounts statistic, IMF noted that estimations do not include Transnistrian region, for which data collection was ceased in 1991. At the same time, IMF representatives mentioned that as result of certain technical missions on Fund’s behalf, currency and financial statistics improved. According to them, the authorities have complied with the majority of mission’s recommendation of April (SRF) and started creating an integrated currency database (IMD) for joint use of IMF European and Statistics Departments. The new Financing Agreement for Moldova, for 3-year term, of 118,2 million lei, was approved by IMF on 5 may 2006. It is complying with the Economic Growth and Poverty Reduction Strategy (SCERS) and highlights the macroeconomic stability, as well as financial sector development and structural reforms directed to speeding up the transition process through clearing up state’s role in economy.