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Moldova: History, Demographics and More Information

Brief history of Moldova …

Formerly part of Romania, Moldova was incorporated into the Soviet Union at the close of World War II. Although independent from the USSR since 1991, Russian forces have remained on Moldovan territory east of the Dnister River supporting the Slavic majority population (mostly Ukrainians and Russians) who have proclaimed a Transnistria republic. In 1991 Moldova became the first former Soviet state to elect a Communist as its president.

Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. Energy shortages contributed to a sharp production decline after the breakup of the Soviet Union. As part of an ambitious reform effort after independence, Moldova introduced a convertible currency, freed prices, stopped issuing preferential credits to state enterprises, backed steady land privatization, removed export controls and freed interest rates. The government entered into agreements with the World Bank and the IMF to promote growth and reduce poverty. The economy returned to positive growth in 2000, and has remained at or above 6% every year since.

Further reforms will come slowly because of strong political forces backing government controls. The economy remains vulnerable to higher fuel prices, poor agricultural weather, and the skepticism of foreign investors.

Demographics and other information ...