IMF experts, Moldova's authorities reach agreement on second evaluation of programme

Chisinau, 7 November /MOLDPRES/ - Prime Minister Pavel Filip today had a meeting with a team of experts of the International Monetary Fund, led by Ben Kelmanson, which ended its evaluation mission in Moldova, the government’s communication and protocol department has reported.   

At a joint news conference, the PM stressed that the programme with IMF was very important for Moldova and represented more than just a financial loan. It is a certificate of trust. “It is important for the government that we have an objective and independent opinion on our efforts for carrying out the Programme, as well as the reforms implemented on the last period,” Pavel Filip said.   

According to the prime minister, the mission’s conclusions are hopeful for Moldova and the sides reached common mind on all topics discussed. Among the positive elements found out, there is the fact that the Programme, in general, fits the performance criteria established and Moldova benefited from a period of economic and financial stability. At the same time, the forecasts of medium-term economic growth are friendly – between 3.5 and 4 per cent and the budgets: the one for 2017 rectified and the budget for 2018 allow more public investments and social spending.     

“After finishing the evaluation of the programme, we will be able to additionally benefit from about 22 million dollars. We are encouraged to maintain the dynamic of the reforms, in order to speed up the economic growth and reduce poverty,” Pavel Filip also said.    

At the same time, a string of subjects were established, on which the authorities will focus their efforts on the next period. Among them, there are: banks’ governance, single central securities depository, recovery of assets as a result of the bank fraud and the non-banking financial organizations. In the context, the PM gave assurances that the cabinet was firmly determined to fulfill the commitments taken.    

For his part, the head of the IMF mission thanked the Moldovan authorities for the openness proved in discussions. At the same time, Ben Kelmanson appreciated the reforms carried out in Moldova.  

“I am happy to announce that experts of the International Monetary Fund and representatives of Moldova’s authorities reached a staff-level agreement on the second evaluation of the Programme. The latter is to be discussed by the IMF management and the Fund’s Executive Board in next December,” the head of the IMF experts mission also said.    

It is worth mentioning that, on 7 November 2016, the Board of Directors of the International Monetary Fund approves a three-year programme with Moldova. The programme sees providing financial support to implement the reforms promoted by the government. In this respect, about 59 million dollars has been disbursed so far, of the programme’s overall sum of about 178.7 million dollars. 

The IMF experts visited Moldova during 25 October – 7 November 2017, on a mission to evaluate Moldova’s Programme with the Fund.