Talks with IMF mission were very constructive, Moldovan PM says

Chisinau, 6 October /MOLDPRES/- Prime Minister Valeriu Strelet today told a briefing that the talks with the International Monetary Fund (IMF) mission had been very constructive. The premier reiterated his hope for a new memorandum agreement should be signed this autumn.

"It was a working visit for consultations and an assessment of policies which are promoted by government under the Article No 4 of IMF statute and setting conditions that could be the basis for a country programme backed by IMF", Strelet said. He added that the negotiating teams of Moldova had proved a full preparation for negotiating and signing a memorandum agreement with IMF.

"In the context of my visit to Washington, and now, after a review of talks with a team of IMF experts, we agreed on a set of urgent measures, which must be taken in the immediate perspective to achieve the goal, preparation and signing of the agreement by late this autumn", he said.

Among the measures recommended by IMF, due to be taken in immediate perspective, are completion of audit by energy companies and "enforcement of real rates, which would allow the good functioning of energy sector along with the measures on social insurance".

A condition is focused on banking sector, advancing controlled liquidation process of the three defrauded banks, and there is no ground to believe that the withdrawal of licenses of the Savings Bank (Banca de Economii), Social Bank and Unibank might be impeded on 16 October. A problem on investigation of fraud in the banking sector was approached in the talks with IMF experts. 

"An element is related to the situation in the entire banking system and namely, a radiography of the financial system, macroeconomic policies, structural reforms in the field, adopting legislation meant to ensure independence and functionality of regulator", he also said.

Strelet also pointed out that "an element set in the list of urgent measures is focused on stability of managing the National Bank, appointing new governor".

The premier informed that in early November, the government would invite IMF to send a mission to Moldova, so that a new memorandum agreement should be signed and submitted to the board of directors for approval. 

(Reporter V. Bercu, editor M. Jantovan)