Moldovan government reaches agreement with International Monetary Fund

10:43 | 28.07.2020 Category: Official

Chisinau, 28 July /MOLDPRES/ - Prime Minister Ion Chicu has had a meeting with the experts’ team of the International Monetary Fund, led by Ruben Atoyan. At an online meeting, the officials gave final touches to the last details on the new financial programme for Moldova. Following two weeks of constructive dialogue and negotiations, the sides reached a joint agreement on the actions provided for in the programme, the government’s communications and protocol department has reported.

The value of the new Moldova-IMF cooperation programme amounts to 558 million dollars and will be implemented for a three-year period (2020-2023). The financial assistance will be used for the re-launch of Moldova’s economy and overcoming the consequences of the COVID-19 pandemic, as well as for implementing institutional reforms.

The representatives of the financial institution informed that, immediately after the signing of the IMF-Moldova agreement, a string of preliminary actions would be implemented for assessing the governance’s vulnerability in more sectors: budgetary and fiscal, supervising the financial sector, governance of the National Bank of Moldova (BNM), market regulation, rule of law state, combating the money laundering and financing terrorism.

The plan on centralized assessment of the governance, by the use of relevant criteria and indicators, will provide a specific and concrete diagnosis of the level of governance and anticorruption in Moldova. Based on the results, the IMF team will formulate reasonable recommendations. Therefore, the policies of improving the governance will contribute to reducing corruption and improving the economic results.

PM Ion Chicu thanked the experts’ team for the effort and work carried out and reiterated the importance of this ambitious programme for Moldova.

The memorandum between Moldova and IMF is to be discussed at a meeting of the Board of Directors of the International Monetary Fund, due in next September.

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