Objectives of the program with the IMF almost achieved

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Posted by: trm.md

News / Economic

05 Feb. 2020 / 14:59

Objectives of the program with the IMF almost achieved

Moldova intends, after the end of the current program in March, to conclude a new program with the IMF. This was announced by Prime Minister Ion Chicu in a press conference to conclude the visit of the IMF mission in our country. The prime minister said he would request a visit from a new mission to establish a new program with the IMF.

" Moldova has successfully completed this program. The country had three governments, two election campaigns and four Ministers of Finance. The budgetary developments in 2019 were at the level we expected. It is a proof of the maturity of the Moldovan budget system, which has become immune to the political turmoil in the country. The current program ends on March 20", said Chicu.

In his statement, the head of the IMF mission confirmed the rationality of the massive investments in the development and modernization of the infrastructure, pointing to the need to strengthen the capacities of public investment management.

"The performance of the program was evaluated as strong, and all the criteria were met. The structural criteria will be finalized by the March meeting of the Council. Following the completion of the evaluation of the program, Moldova will benefit of approximately 20 million US dollars. The objectives of the program supported by the IMF were largely achieved, the extensive reforms carried out by the authorities led to the rehabilitation of the banking system and the strengthening of governance in the financial system, thus it strengthened the macro-economic and financial stability. The progress achieved is appreciated considering the political instability in the Republic of Moldova ”, said Rubén Atoyan, head of the IMF Mission.

The three-year program of the Moldovan authorities, supported by the IMF, was approved on November 7, 2016. It is financed by a loan totaling US $ 182 million, of which about US $ 160 million has already been disbursed.

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