Moldovan premier: Our goal by of September end to realize all measures, commitments to IMF

Chisinau, 7 September /MOLDPRES/ – Prime Minister Pavel Filip is confident that by late September to take all measures and commitments which Moldova undertook to the International Monetary Fund (IMF).

"Our main objective is that at the end of September to realize all measures and commitments we took to the IMF so that in October financing program between Moldova and the Fund to be examined by the IMF executive board," said Prime Minister Filip at the Government meeting today.

The Cabinet Chief made an appeal to all those who are involved in making preconditions – not to relax. "We do not have much time, we try to have a permanent connection as it has been until now, with parliamentarians actually, so that all necessary documents to be approved in due time by Parliament and of course to publish them," said Pavel Filip.

In late July, the IMF announced that "Fund experts and the Moldovan authorities have reached agreement at staff level on a program of economic reforms, supported by a financing arrangement for 3 years through the Mechanism Extended Fund Facility (EFF) and extended credit Facility (ECF). Access to financing is proposed to be set at a level of 75 per cent of Moldova's IMF quota (SDR 129 million, or about 179 million US dollars). This agreement at staff level will have to be approved by IMF management and Executive Board".

The Examination agreement by Executive Board is expected for the month of October. The program refers to the banking sector, especially corporate governance, transparency of banks' shareholders and supervisory and regulatory framework of Moldova’s financial sector. Also, there must be carried out structural reforms which aim at improving business environment, attract investments and enhance Moldova’s potential economical growth.

"The original measures will support the authorities' efforts to fight corruption, sustainable energy policy and budgetary and fiscal reform agenda, particularly pertaining to revenue mobilization, increasing costs efficiency and reducing budgetary and fiscal risks," mentioned IMF.

(Reporter V. Bercu, editor A. Raileanu)