The staff team of the International Monetary Fund (IMF) that visited Chisinau during January 15-29 found that the Moldovan economy has recovered strongly from the 2012 severe drought. The mission led by Max Alier held discussions with the authorities regarding policies that could form a basis for a Fund supported program, IPN reports.

According to a press release of the IMF, in 2013, economic activity is projected to have increased by 7½ percent, inflation remained close to 5 percent, the general government deficit narrowed to 1.8 percent of GDP, and external accounts continued to improve.

At the conclusion of the visit, Max Alier said the mission made progress in understanding the economic and financial policy priorities of the government. “We discussed the policies that could form a basis for a Fund supported program, including policies to safeguard fiscal sustainability, maintain prudent monetary policy stance, and strengthen the financial sector,” he stated.

Discussions between the Government and the IMF will continue in the coming weeks.