Moldova managing to finish programmes with IMF success, economic experts say

Chisinau, 12 March /MOLDPRES/ - The finishing of the programme with IMF means a success story in the relations with the international financial institutions. Economic expert Roman Chirca has made statements to this effect.  

According to Chirca, ‘’Moldova has managed to complete the programmes with the International Monetary Fund, which is a success, taking into account the fact that the last programme ended without debts was the one from 2000, i.e 20 years ago. Once the last installment was disbursed, Moldova will have in its records a success story in the relations with the international financial institutions,’’ Chirca said on his webpage.

The economist noted that the programme had been focused, first of all, on the banking sector, strengthening its supervision after the ‘’one-billion-dollar theft’’, being implemented by a string of measures of reducing the risks in the banking sector, transparentizing the shareholders, actions of supervising the system. Another aspect deals with the stability of the public money, through maintaining a manageable level of the budget deficit, ensuring the annual increase of the public budget, without negative effects on the economy, just as the targeting of inflation and maintaining it in the fit limits for the macroeconomic stability.

„The economic and geopolitical position constraints us having operational programmes with IMF, which, for their part, serve as basis for extending the relations with other international institutions and development partners, in the context of attracting funds for development. Therefore, Moldova’s development and its positioning in the next 3-4 years will depend on the capacity of initiation, negotiation and signing of a new agreement with IMF,’’ the expert added.    

The IMF board of executive directors finished the last evaluation of the programme with Moldova, supported through the Extended Credit Facility and the Extended Fund Facility. Following these assessments, the Moldovan authorities can access about 20 million dollars.