Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. Critics argue the timeline is unrealistic and that the burden will fall disproportionately on small depositors.
Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said.
Background
The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier. Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said.
“This is the most consequential moment for the sector since the crisis began.”
Analysts caution that the outlook remains tied to the pace of structural reforms and the political calendar. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.
Much depends on whether the government can hold its coalition together long enough to pass the legislation. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
