| Table Name | Moldova |
| 1.0 Contact Information | |
| 1.1 Name | Tatiana Ciloci |
| 1.2 Designation (Job Title) | Head, External Debt Statistics Section, Reporting and Statistics Department |
| 1.3 Organization | National Bank of Moldova |
| 1.4 Mailing Address | Grigore Vieru 1, Chisinau, Moldova, MD2005 |
| 1.5 Country | Moldova |
| 1.6 Email | tatiana.ciloci@bnm.md |
| 1.7 Telephone | +37322 409 294 |
| 2.0 Concepts, Definitions and Scope | |
| 2.1 Statistical frameworks for the compilation of external debt data | 2013 External Debt Statistics Guide/6th Edition of Balance of Payments Manual (BPM6) |
| 2.2 Consistency with the external debt liabilities of the International Investment Position (IIP) | Yes |
| 2.3 Additional Information on Concepts, Definitions and Scope | At present the NBM is in a period of transition to the conceptual framework of the External Debt Statistics: Guide for Compilers and Users, 2013 (EDG, 2013):
• starting with the data for 2012, the NBM reports Quarterly External Debt Statistics (QEDS) to the World Bank according to the Balance of Payments and International Investment Position Manual, sixth edition, 2009 (BPM6) and EDG, 2013, Since April, 2016 those date are also posted at the NBM official website;
• at the same time the International Accounts Statistics Division still compiles also the gross external debt using the concepts, definitions, and conceptual framework as they are set forth in the IMF’s Balance of Payments Manual, fifth edition, 1993 (BPM5) and the External Debt Statistics: Guide for Compilers and Users, 2003 (EDG, 2003). The item “SDR allocation” is recorded according to the recommendations of the BPM6 and the EDG 2013.These data are published in the NBM’s quarterly and annual analytical comments on gross external debt which are posted on the NBM website. |
| 3.0 Sector Classification/Coverage | |
| 3.1 Data coverage for General Government | Fully covered |
| 3.2 Data coverage for Central Bank | Fully covered |
| 3.3 Data coverage for Deposit-taking corporations, except the Central Bank | Fully covered |
| 3.4 Data coverage for Other Sectors | Fully covered |
| 3.5 Data coverage for Other financial corporations | Fully covered |
| 3.6 Data coverage for Nonfinancial corporations | Fully covered |
| 3.7 Data coverage for Households and nonprofit institutions serving households (NPISHs) | Partly covered, with some gaps |
| 3.8 Data coverage for Direct Investment: Intercompany lending | Fully covered |
| 3.9 External debt statistics presented into Public and Publicly Guar. Private Sector and Private Sector Not Publicly Guar. Debt | Yes |
| 3.10 External debt include both foreign currency and domestic currency denominated debt instruments held by nonresidents | Yes |
| 3.11 Additional comments and explanations on Sector Classification/Coverage | (i) Other sectors include the liabilities of public corporations and other financial and nonfinancial corporations. External debt liabilities of households include positions on external loans only.
For analytical purposes the external debt is presented specifying the debtor’s sector that is: public sector, publicly guaranteed private sector debt and nonguaranteed private sector debt.
(ii) Public sector debt comprises Governmental and the NBM’s liabilities to non-residents and debt resulting from external loans of administrative-territorial units (ATU) and public corporations (publicly owned enterprises and business entities where the government or ATU hold more than 50% of the equity capital). |
| 4.0 Debt Instrument Classification/Coverage | |
| 4.1 Data coverage for Currency and deposits | Fully covered |
| 4.2 Data coverage for Debt Securities | Fully covered |
| 4.3 Data coverage for Loans | Fully covered |
| 4.4 Data coverage for Trade credit and advances | Fully covered |
| 4.5 Data coverage for Other debt liabilities | Fully covered |
| 4.6 Data coverage for Special drawing rights (allocations) | Fully covered |
| 4.7 Data coverage for Debt liabilities of direct investment enterprises to direct investors | Not covered |
| 4.8 Data coverage for Debt liabilities of direct investors to direct investment enterprises | Not covered |
| 4.9 Data coverage for Debt liabilities to fellow enterprises | Not covered |
| 4.10 Arrears (including interest that accrues on arrears) reported in the same debt instrument | Yes |
| 4.11 Arrears separately identified in the memorandum items | Yes |
| 4.12 Classification of maturity for short-term/long-term debt instruments | Original Maturity |
| 4.13 Additional comments and explanations on Debt Instrument Classification/Coverage | (i) SDR allocations are included from 2009Q3. (ii) External debt statistics comprise liabilities on debt securities, loans, SDR allocation, trade credits and advances, currency and deposits, other debt liabilities, direct investment: intercompany lending.
(ii) Debt securities include debt securities issued by Moldovan residents, held by nonresidents, except for debt securities issued by the government in national currency in order to be placed in the domestic market of the Republic of Moldova and purchased by nonresidents. According to the Law of the Republic of Moldova “On public debt, state guarantees and on-lending from state borrowing” No 419-XVI of 22.12.2006, such securities are attributed to the internal governmental debt.
Loans comprise the following components:
central bank loans – loans contracted from the IMF and used by the NBM;
governmental loans (state loans and loans of administrative-territorial units (ATU)) – external loans contracted and used by the central and local government on behalf of the Republic of Moldova;
loans guaranteed by the Government – external loans of the private sector under the guarantee of the Government;
loans of public corporations – external loans contracted by economic agents where the government and/or ATU holds more than 50% of the equity capital;
private loans – external loans contracted by the private sector (deposit-taking corporations and other sectors) with the exception of loans from parent companies.
Trade credits and advances consist of external liabilities arising from direct extension of credit by suppliers within transactions in goods and services . They include:
- advances received by economic agents from nonresidents;
- liabilities arising from barter transactions in goods of non-equivalent value (when the value of imports exceeds the value of exports);
- liabilities on imports of goods and services not paid in due time.
5. Currency and deposits consist of non-residents deposits in the Moldovan banking system.
6. Other liabilities cover the liabilities to non-residents on transactions with investments and on payments of dividends to non-residents:
- the historical debt for imports of energy resources;
7. Direct investment - intercompany lending. The stock of intercompany lending includes:
- loans from parent companies or from branches located abroad and interest arrears on these loans;
-- the historical debt for imports of energy resources of direct investments enterprise for its direct investor. |
| 5.0 Valuation and Basis of Recording | |
| 5.1 Main valuation method for debt securities (in main table) | Nominal Value |
| 5.2 Main valuation method for debt securities (in memorandum items) | Not reporting debt securities in memorandum items. |
| 5.3 Other methods and weights used for valuation of debt securities | None |
| 5.4 Basis for compiling external debt statistics | Accrual Basis |
| 5.5 Inclusion of accrued interest costs that are not paid | Partially - The recording basis for the external debt is accrual accounting, except for loans, where due-for-payment basis is used. The outstanding liabilities arising from periodic interest costs of debt securities that have accrued and are not yet payable are included in the gross external debt position as part of the value of the underlying debt instrument. |
| 6.0 Data sources/Compiling Organizations | |
| 6.1 Main data source(s) for the external debt statistics | The main data sources for gross external debt compilation are the data received from the Ministry of Finance (MOF), some departments of the NBM, licensed banks, the National Bureau of Statistics (NBS), and from legal entities.
Debt securities: The NBM uses the data on debt securities from the Debt Management and Financial Analysis System (DMFAS), supplemented with data from the International Transactions Reporting System (ITRS) and from NBM’s Banking Operations Department.
Loans: Data on loans are produced on the basis of the DMFAS, administered by the MOF (for public debt) and by the NBM (for private debt). DMFAS data are supplemented with the data from the ITRS. Data on intercompany lending are compiled on the basis of DMFAS and supplemented with the ITRS data, data from the NBS' quarterly statistical report on investment 1-Invest, and are reconciled with the data from the legal entities’ balance sheets on an annual basis.
SDR allocation: reports from the MOF and the DMFAS data.
Trade credits and advances: Quarterly and annual data on advances received by economic agents from nonresidents are calculated based on consolidated data from the legal entities’ balance sheets, collected by the NBS. Since 2008 quarterly estimations are made on the basis of the ITRS and external trade statistics; Non-equivalent barter (when barter imports exceeds its exports) – NBM’s estimations on the basis of external trade statistics;
Liabilities on imports of goods and services not paid in due time: (i) prior to 2008 NBM’s estimations based on general consolidated data from the legal entities' balance sheets, collected by the NBS and on information from main economic agents that render different types of services such as railway transportation. (ii) Since 2008 quarterly estimations are made on the basis of the ITRS and external trade statistics.
Currency and deposits: Data are compiled on the basis of licensed banks’ and the NBM’s reports.
Other debt liabilities - Data on the historical debt (with a maturity of more than 1 year) of legal entities on imports/exports of goods and services (prior to 2008) are received from the surveys of legal entities – monopolies in the strategic imports of goods (e.g., energy resources) or services (e.g. railway transportation).
Data on liabilities to non-residents in transactions with investment and payments of dividends are compiled based on the report of the National Commission for Financial Markets and the ITRS.
Arrears on external debt service (loans and state securities) are recorded as a supplementary item and calculated on the basis of DMFAS data;
Direct investment: intercompany lending data on loans to subsidiaries from foreign direct investors/branches are selected from the DMFAS and are supplemented with data from the ITRS.
The data on the direct external debt of the government and the publicly guaranteed external debt are presented by the MOF on a quarterly basis.
The data on external non-guaranteed private sector debt are compiled by the NBM on the basis of the DMFAS, which is supplemented with the ITRS data. |
| 6.2 Link(s) to national website where the external debt statistics are being disseminated | http://www.bnm.md/bdi/pages/reports/dbp/DBP1.xhtml |
| 6.3 Link(s) to relevant metadata that currently exists and is consistent with your external debt statistics | http://bnm.md/en/content/international-accounts-methodological-standards-and-data-sources |
| 6.4 Primary agency responsible for compiling external debt statistics | National Bank of Moldova |
| 6.5 Primary agency responsibile for disseminating external debt statistics | National Bank of Moldova |
| 7.0 Periodicity and Timeliness | |
| 7.1 Frequency of external debt statistics compilation | Quarterly |
| 7.2 Frequency of external debt statistics dissemination | Quarterly |
| 7.3 Timeliness of the publication of the external debt statistics | Quarterly |
| 7.4 Additional comments on Periodicity and Timeliness | None |
| 8.0 Revision Policy | |
| 8.1 Data revision policy | Regular schedule - The external debt statistics are regularly revised, the items are updated/amended with the mandatory indication of the revisions made, causes and reasons thereof, according to the following rule: (i) quarterly data are updated in each subsequent quarter and the revisions may include up to three quarters of the current year; (ii) annual data are updated at the time of compilation of the final version and the revisions may cover up to four years. |
| 9.0 Unit of Measure | |
| 9.1 Unit of Measure | Data are in USD. |
| 10.0 Reference Period | |
| 10.1 Reference Period | (i) Data are available starting from 2004Q1. (ii) Data converted through generic conversion from 2003 EDS Guide/BPM5 to 2013 EDS Guide/BPM6 basis by the World Bank from 2004Q1 to 2013Q2. (iii) Data reported by country on a 2013 EDS Guide/BPM6 basis starting from 2013Q3. |
| 11.0 Table Reporting | |
| 11.1 Table 1 - Gross External Debt Position: by Sector (Prescribed component) | Yes |
| 11.2 Table 2 - Gross External Debt Position: Foreign Currency and Domestic Currency Denominated Debt (Encouraged component) | Yes |
| 11.3 Table 3 - Debt-Service Payment Schedule for Outstanding External Debt as of End-Period: by Sector (Encouraged component) | No |
| 11.4 Table 4-Gross External Debt Position:Principal and Interest Payments Due in 1 Yr or less -by Sector (Encouraged component) | No |
| 11.5 Table 1.1 - Gross External Debt Position: Debt Securities - Reconciliation of Nominal and Market Value | No |
| 11.6 Table 1.2 - Gross External Debt Position: Other Sectors | Yes |
| 11.7 Table 1.3 - Gross External Debt Position: Public Sector Debt and Publicly-Guaranteed Private Sector Debt | Yes |
| 11.8 Table 1.4 - Gross External Debt Position: Arrears by Sector | Yes |
| 11.9 Table 1.5 - Net External Debt Position: by Sector | Yes |
| 11.10 Table 1.6 - Gross External Debt Position: Reconciliation of Positions and Flows | Yes |
| 11.11 Table 2.1 - Gross External Foreign Currency and Foreign-Currency-Linked Debt Position | No |
| 11.12 Table 3.1 - Gross External Debt Position: Short-Term Remaining Maturity - by Sector | No |
| 11.13 Table 3.2 - Debt-Service Payment Schedule for Outstanding External Debt as of End-Period: by Sector and Instrument | No |
| 12.0 Metadata Update | |
| 12.1 Metadata last updated | 12/14/2016 |