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photo source: gov.md
Posted by: trm.md
News / Economic
28 July 2020 / 08:33
Government has reached an agreement with the IMF
Prime Minister Ion Chicu had a meeting with the team of experts of the International Monetary Fund (IMF), led by Ruben Atoyan. During the online meeting, the last details regarding the new financial program of the country were finalized. After two weeks of constructive dialogue and negotiations, the parties reached a common agreement on the actions set out in the program.
The new cooperation program between the Republic of Moldova and the IMF amounts to $ 558 million and will be implemented for three years (2020-2023). Financial assistance will be used to revive the economy and to overcome the consequences of the COVID-19 pandemic, as well as to implement institutional reforms.
Representatives of the financial institution informed that immediately after signing the agreement between the IMF and the Republic of Moldova, there will be implemented a series of preliminary actions to assess governance vulnerabilities in several areas: budgetary-fiscal, financial sector supervision, NBM governance, market regulation, rule of law , combating money laundering and terrorist financing.
The centralized governance assessment plan using relevant criteria and indicators will provide a concrete diagnosis of the level of governance and anti-corruption in the Republic of Moldova. Based on the results, the IMF team will make reasonable recommendations. Therefore, policies to improve governance will help reduce corruption and improve economic performance.
The memorandum between the Republic of Moldova and the IMF is to be discussed in September at a meeting of the Board of Directors of the International Monetary Fund.
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