IMF voices stance on law of capital's legalization, fiscal stimulus

Chisinau, 22 December /MOLDPRES/ - The International Monetary Fund (IMF) “will continue the dialogue with the authorities, in order to comply the legislative initiatives with the goals taken within the programme,” IMF Resident Representative in Moldova Armine Khachatryan said referring to the law on capital’s liberalization and fiscal stimulus.

“The principles staying at the basis of the draft law on capital’s liberalization and fiscal stimulus apparently run counter the objectives set in the programme of economic reforms of the authorities, backed by IMF. The draft law, in the present form, would lead to the jeopardizing of measures of fighting corruption and would put obstacles to the fight against the money laundering and frauds,” the IMF resident representative in Chisinau said. She noted that the dialogue with the authorities would continue to identify possibilities to get the legislative initiatives in line with the goals assumed within the programme.     

“The experience we have gained shows that it is extremely difficult to work out the concept of a fiscal amnesty which is to be a success. We prefer to explore possibilities to improve the fiscal administration, as instrument meant to ensure e better fiscal compliance, and the fight with the informal payments,” Armine Khachatryan said.    

The World Bank also believes that the law on capital’s liberalization and fiscal stimulus can be passed only after the draft is amended.

The law on capital’s liberalization and fiscal stimulus, adopted in the first reading, will not be passed in the second reading, unless there is a full and positive expertise of IMF, World Bank and European structures, Parliament Speaker Andrian Candu has said in an interview given with Free Europe.  

(Reporter V. Bercu, editor A. Raileanu)