PM says Moldova to sign agreement with IMF in October 2016

18:42 | 18.07.2016 Category: Economic

Chisinau, 18 July /MOLDPRES/ - Moldova will sign an agreement with the International Monetary Fund in October 2016, and will receive the first 25 million-dollars-worth installment till late this year, Prime Minister Pavel Filip said at a TV programme on 17 July evening.

According to the official, following the visits by IMF experts to Moldova, a press release is to be sent from Washington, which will inform where there is a staff level agreement.

“This document contains commitments which must be fulfilled till the IMF Board, in which Moldova will participate too, so that we have an agreement signed with MF in next October. We do not expect huge sums immediately; this year, we rely on a sum of about 25 million dollars,” Pavel Filip said.

The prime minister noted that the accord with IMF would unlock the financings from other development partners as well. “Immediately after we have the staff level agreement, I am sure that, in August, we will receive the loan worth 60 million from Bucharest worth 60 million euros. In terms of the Washington dimension, we will have unlocked money from the World Bank; it is about 45 million dollars. We also speak about money from the European Union, amounting to 45-55 million euros,” the PM said.

„Subsequently, we are set to carry out reforms in the banking system; we should strengthen the regulator and have a legal framework which should not allow another bank fraud in Moldova. Till late 2016, Moldova will have a quite stable and transparent banking system and I assure you that that this government will remove all vulnerabilities from the financial system,” the prime minister said.

In response to a request by Moldova’s authorities, an IMF mission of experts led by Ivanna Vladkova-Hollar was on a 5-15 July visit to Chisinau. The mission’s goal was to discuss a possible agreement for a three-year term, financed through crediting mechanisms of IMF – Extended Fund Facility (EFF) and Extended Credit Facility (ECF), worth about 180 million dollars, to support the programme on the state’s economic reform.

(Reporter A. Plitoc, editor L. Alcaza)

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