IMF to grant Moldova over 21 million US dollars

Chisinau, 28 February /MOLDPRES/ - Moldova will be able to benefit from 15.7 Special Drawing Rights (about 21.2 million dollars) on behalf of the International Monetary Fund (IMF), after the Fund’s leadership approves the staff level agreement established between the mission’s representatives and the Moldovan government. The head of the IMF mission, Ben Kelmanson, made statements to this effect at a today’s news briefing held jointly with Prime Minister Pavel Filip.       

According to Ben Kelmanson, following the assessment made by the team of IMF experts on 14-28 February, the mission and the government of Moldova reached a staff level agreement. The IMF mission head said that the agreement was to be approved by the IMF leadership in next April; subsequently, Moldova will be able to benefit from about 21.2 million dollars. “The visit to Chisinau was constructive. Following the evaluation, we established that the country’s economic growth had been re-established; nevertheless, we expect efforts and results, in order to rehabilitate the banking sector, maintain the prices’ stability, settle the problems in the energy sector and strengthen the operational procedures,” Ben Kelmanson said.       

For his part, Prime Minister Pavel Filip said that the rounds of assessment carried out by the IMF mission would take place each half a year. “On this period, we are to enforce the commitments taken before IMF. Following the evaluation, the mission found out more progress and this encourages us. We have reached more agreements in the energy, banking and budgetary sectors. I highlight the   improvement of the forecasts and macroeconomic indexes agreed upon with IMF; thus, the increase of the Gross Domestic Product (GDP) for 2017 was estimated at 4.5 per cent, against 3 per cent, as it was set based on the budget for this year. At the same time, in late 2016, the government managed to reach the lowest inflation level of the last years – 2.4 per cent, down from 13.5 per cent in 2015. Also, experts estimated the increase in exports at the level of 10 per cent and of the imports at the one 8 per cent; the average monthly salary on the national economy, forecast for this year, is 5,600 lei, by 10.1 per cent more against the last year,” the PM said.          

Also, the officials agreed that a forthcoming priority would be the approval of a document of economic development, due to be worked out till mid-March 2017.

The Moldovan government and IMF on 7 November 2016 signed a cooperation agreement, under which Moldova received a credit line of about 176 million dollars, of which circa 35 million dollars has been already earmarked.   

(Reporter A. Plitoc, editor M. Jantovan)