After a two-year hiatus, the World Bank provided much-needed budget support to Moldova in November 2016. That disbursement of $45 million reflected our confidence that the Government and the…

Alex Kremer |

In my first blog on Moldova’s pension system, I discussed challenges and reform options. My second one focused on the incentives to contribute into that pension system. Now, in this third blog, I…

Yuliya Smolyar |

For the first time in history, the number of people living in extreme poverty has fallen below 10%. The world has never been as ambitious about development as it is today. After adopting the…

Sri Mulyani Indrawati |

My father is a long-distance trucker based in Belarus. As a young girl, I spent long hours on the road with him. I loved traveling to neighboring and faraway cities and—even though I could barely…

Alena Sakhonchik |

Understanding macroeconomic volatility part 3Read parts 1 & 2
There’s good evidence that a country’s level of financial development affects the impact of volatility on economic growth,…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

Understanding Macroeconomic Volatility: Part 2 The fact is that a government can soften a recession by increasing spending (the counter-cyclical approach) to raise demand and output. If government…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

My last post discussed the challenges and reforms of Moldova’s pension system, but I would like to focus now on the incentives for contributing into a pension system. This issue is especially…

Yuliya Smolyar |

Volatility in financial markets gets wide attention in the public eye. Less noticed is what we in the development world call macroeconomic volatility—faster-than-desired swings in the broad forces…

Francisco G. Carneiro, Ha Minh Nguyen, Rei Odawara |

Let me explain why the World Bank is optimistic for Moldova.  Reason for optimism number 1. On the edge of the largest market in the world - the European Union - and with labour costs a tiny…

Alex Kremer |

In the early to mid-1990s, the Moldovan Government often didn’t pay pensions on time – sometimes they were up to two years late. And, they were often paid in-kind. This situation was a syndrome of…

Yuliya Smolyar, Victor Neagu |