IMF appreciates firm actions of Moldova's authorities

Chisinau, 9 October /MOLDPRES/ - The head of the IMF mission, Ruben Atoyan, on a 2-8 October visit to Chisinau, at the end of the mission has said that he appreciated “the firm actions of the Moldovan authorities to bring the programme supported by IMF to normal again and advance the reforms.”     

„In the last week, we have had constructive discussions on the recent economic developments and policies promoted to maintain the macroeconomic, budgetary and fiscal stability. In this context, the IMF experts initiated discussions on the budget for 2020, dealing with the policies’ priorities and financing. The discussions on the measures and reforms meant to contribute to the carrying out of the package of budgetary and fiscal policies for 2020 will continue on the next period, including at the annual joint meetings of the World Bank and International Monetary Fund, in Washington,” Ruben Atoyan said, according to a press release issued by the IMF Resident Representative Office in Chisinau.      

Such working visits outside the standard cycle of programme evaluations are part of the IMF’s usual practice, when it is about the countries with programmes backed by the Fund. Traditionally, the experts had meetings at the government, presidency, parliament, Finance Ministry, National Bank of Moldova, Economics and Infrastructure Ministry and other governmental institutions.     

The Extended Credit Facility (ECF)/Extended Fund Facility (EFF) Programme, worth 129.4 million Special Drawing Rights (about 178.7 million dollars or 75 per cent of Moldova’s quota at IMF), was approved on 7 November 2016, of which 158 million dollars has been already provided.   

The Board of Directors of the International Monetary Fund on 20 September approved a request by the Moldovan authorities to extend the duration of the programme till 20 March 2020 and changed the schedule of disbursement, in order to allow the programme’s successful completion.