European MP welcomes IMF's decision on new programme with Moldova

Chisinau, 27 July /MOLDPRES/ – The head of of European Parliament Delegation to Moldova, MEP Andi Cristea has welcomed the approval by the IMF of a technical agreement with Moldovan authorities, noting that time was ripe for the Romanian government to earmark the first installment of 60 million euros loan.

"I welcome the fact that the IMF has reached an agreement with the Chisinau government on signing a new cooperation agreement. We're talking basically of a program of economic reforms supported by a financing agreement worth 179 million dollars during the next three years, the final decision due to come this autumn, with a meeting of the Executive Board of the International Monetary Fund," writes Andi Cristea on a social networking site.

The MEP said that "it is time for the Bucharest Government to give a breath of oxygen to the Filip cabinet and hasten the providing of the first installment of the bilaterally negotiated loan, worth 150 million euros, considering the fulfillment of the stage conditions by Chisinau".

"Similarly, the European Commission will give green light for the resumption of EU's budgetary support for Moldova, as long as the Moldovan government ensures rigorous implementation of policies to provide macroeconomic and financial stability. This is a stage victory for the government Filip and a confirmation of seriousness towards international partners of Moldova ", writes Andi Cristea.

“IMF staff and the Moldovan authorities have reached staff-level agreement on an economic reform program to be supported by a three-year Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangement. Access under this arrangement is proposed to be set at 75 percent of Moldova’s quota in the Fund (SDR 129 million, or about US$ 179 million). The staff level agreement is subject to approval by IMF Management and the Executive Board. Consideration by the Executive Board is expected in October, following the authorities’ implementation of a number of prior actions " said the IMF mission head, Ivanna Vladkova-Hollar.

(Reporter V. Bercu, editor L. Alcaza)