The Delegation of the European Union to Moldova announced that the first tranche under the Macro-Financial Assistance program has been put on hold, IPN reports.

“Disbursements under the Macro-Financial Assistance program are contingent on the successful implementation of specific economic policy measures laid out in the Memorandum of Understanding and the fulfilment of political preconditions related to respect of democratic mechanisms, the rule of law and human rights,” says a message issued by the EU Delegation.

“The Commission considers that the policy measures for a disbursement have been implemented. However, a Commission assessment undertaken together with the European External Action Service has found that the political preconditions have not been fulfilled. This assessment is based on the recent political events in Moldova and, in particular, the decision of the Supreme Court of Justice of 25 June on the invalidation of election results in Chisinau. The disbursement of the first tranche under the current Macro-Financial Assistance program has, therefore, been put on hold.”