Moldovan parliament speaker tackles priority actions for programme of structural economic reforms at IMF, World Bank

12:41 | 04.10.2016 Category: Official

Chisinau, 4 October /MOLDPRES/ - Parliament Speaker Andrian Candu had a string of meetings with the leadership of the International Monetary Fund and the World Bank in Washington on 3 October, the parliament’s communication and public relations department has reported.

The discussions were focused on the level of carrying out the IMF’s preconditions for Moldova to benefit from a programme of economic reforms, backed by an financing arrangement for a three-year period, through the Extended Fund Facility (EFF) and Extended Credit Facility (ECF).

Andrian Candu discussed the level of implementing the IMF’s preconditions with the new IMF Executive Director Anthony de Lannoy and Vice President for Europe and Central Asia at the World Bank Cyril Muller.

The IMF and World Bank officials said that the Moldovan authorities’ decision to have a programme with IMF would bring the country benefits in carrying out the vital structural reforms and would provide access to foreign financing – an important support of the reforms. The programme would be at Moldova’s 75-per cent quota at IMF, which amounts to 129 million Special Drawing Rights or about 179 million dollars. The new country programme will be focused on policies of ensuring the macroeconomic and financial stability, with emphasis put on structural reforms for economic development, improving the business environment and attracting strategic investments.

The IMF leadership and its Executive Board will consider a decision on approving the programme for Moldova at a meeting of IMF’s Board, due in the second half of October 2016. Till then, the authorities must fully implement the set of priority actions and the legislation passed should enter into force. The approval of the programme with IMF would mean about 25 million dollars on behalf of the Fund as first installment, 45 million dollars from the World Bank and about 55 million euros on behalf of the European Union.

Parliament Speaker Andrian Candu participates in annual meetings of the World Bank and IMF at the level of parliamentary framework, held in Washington on 3-5 October.

(Editor A. Raileanu)

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