IMF deputy managing director says Moldova deserves strong support on behalf of international community

Chisinau, 14 June /MOLDPRES/ - The present situation in Moldova and the actions undertaken by the authorities to efficiently manage the crises triggered by the war in Ukraine today were discussed at a meeting between Prime Minister Natalia Gavrilita and Deputy Managing Director of the International Monetary Fund  Kenji Okamura. The sides noted that Moldova was going through a chain of complex and extremely costly crises from the financial viewpoint and from the one of people’s well-being. To respond to these challenges, the cabinet needs, in continuation, the support of the international community, the government’s communication and protocol department has reported.     

At joint press statements, the PM expressed gratitude for the IMF’s recent decision to supplement the financial assistance for Moldova. The money additionally received will help Moldova enhance its economic resilience and overcome the consequences of the armed conflict from Ukraine.

According to the prime minister, the string of major crises fostered a series of internal and external imbalances: generalized increase in prices, supply chains hit, as well as substantial risks to the regional and global food security. The government responded to the economic challenges with a string of compensatory measures, including through direct subsidies and compensations or indirect ones, provided to firms or households, amounting to 2 billion lei, as well as through the increase in pensions and other current social payments, which grew by 6 billion lei.        

„We have responded and will respond in continuation to these risks with maximal responsibility. In this respect, the technical and financial assistance provided by IMF is of real help for us. The programme of economic reforms with IMF, announced in last September, helped us strengthen the confidence of other partners too. I am happy that we have managed to develop important cooperation with our partners, even on these difficult periods for the entire world,’’ Natalia Gavrilita said.     

In the context, the PM emphasized that Moldova further relied on IMF’s support, in order to advance on the agenda of the country’s transformation. She noted that the government remained firmly committed in the processes of reformation of the key sectors and speeding up of the economic growth. ‘’The crises highlighted the vulnerabilities which we face, both structural and the ones which we will surely remove through better governance at all levels,’’ the prime minister underlined.   

For his part, the IMF deputy managing director highly appreciated the Moldovan authorities’ firm actions as regards the budgetary policy and the monetary one, amid the difficult circumstances dealing with the war and the high inflation. At the same time, the official stressed that the subsidies for the energy resources and the increases in pensions had been beneficial for backing the most vulnerable people.

„Moldova deserves a strong support on behalf of the international community. We, those from the International Monetary Fund, are proud to be with your country, to back the government’s efforts and to deepen our excellent cooperation,’’ Kenji Okamura said.   

Photo: Government