The International Monetary Fund (IMF) has been closely monitoring the situation in the Republic of Moldova and is open to assist the country, according to a government press release, referring to the declarations made by IMF Head of Mission, Ruben Atoyan, at today’s meeting with the Prime Minister Maia Sandu, Governor of the BNM (National Bank of Moldova) and the Ministers of Finance and Economy.

“The renewal of negotiations with the International Monetary Fund and the implementation of the provisions of the Economic and Financial Policy Memorandum will allow the Republic of Moldova to receive the last two tranches of the IMF financing program for a total of approximatively 66 million US dollars. The Moldovan authorities’ program with the IMF includes maintaining economic and financial stability by cleaning up the financial sector, strengthening the regulatory and supervisory framework, ensuring greater economic growth and sustainability of public finances, ” the government’s press release published after the meeting of the Prime Minister and the IMF mission, who are in Moldova between June 26 – July 10.

According to the Government, Maia Sandu highlighted that there is sufficient political will to ensure the complete cleansing of the institutions from a corrupt state, a genuine reform of justice and building efficient state structures in which citizens can trust.

In addition, Economy Minister Vadim Brinzan said that no money from the bank fraud was recovered.

The IMF program was suspended following the 2018 Tax Amnesty Law and the fiscal reform legislative package, the government said.

During their visit to Moldova, the IMF mission will hold talks with the authorities in order to revise the IMF-funded program under the Extended Fund Facility (ECF) and the Extended Financing Mechanism arrangements.

The IMF team will analyze recent economic developments and the progress achieved in program implementation, will update and assess the macroeconomic outlook and will discuss with authorities about macroeconomic policies over the coming period.

Marina Ciobanu, marinaciobanu.tv@gmail.com