The PRCM was established in 1995 by former members of the Democratic Agrarian Party of Moldova (PDAM), who had been encouraged to break away from the party by President Mircea Snegur.
Although he received the most votes in the first round, he was defeated by independent candidate Petru Lucinschi in the run-off.
Together with the other non-Communist parties, it established the Alliance for Democracy and Reforms (ADR), which was able to form a government.
Despite receiving 5.8% of the vote and finishing in fourth place, it failed to win a seat.
In 2003, the Liberal Party merged into the Our Moldova Alliance (AMN).