Moldova has a $800 million deal with the International Monetary Fund. The money will contribute to the development of the country and to raising people’s living standards, says Alfred Kammer, director of the IMF’s European Department, in conclusion of his visit to Chisinau during March 8-10. According to him, the IMF experts encourage the authorities in Chisinau to create a safe environment for the private sector in order to foster investment.

The IMF official predicts that Moldova will soon overcome the consequences of the Ukraine war and of the energy blackmail that triggered record inflation for the country. He also praised the Moldovan central bank for its measures.

“We are seeing a substantial reduction in economic growth across Europe. We also see that Moldova will emerge from this crisis next year, probably a little earlier than the rest of Europe, because Moldova was affected by inflation earlier than the rest of Europe. The NBM took policy measures earlier than the central banks in the rest of Europe to contain inflation. We now see that core inflation is falling slightly”, Alfred Kammer said in an interview on RliveTV.

The official welcomed the reforms started by the Moldovan Government to support businesses.

“Moldova has a very ambitious reform program, which we support. It has made substantial progress in implementing this program. Last year we supported the Government in the response to the crisis, initially in the pandemic, and then on the energy security side. I think we have been very successful together in helping the people of Moldova. At the same time, long-term structural reforms, which will contribute to increasing the population’s standard of living, have advanced. We have focused, together with the Government, on the reform of state-owned enterprises, anti-corruption efforts, fiscal and financial governance. We have a strong partnership with Moldova to contribute to the advancement of reforms. We want to create an environment for the private sector to truly be the engine of economic growth. The reforms will help ensure the certainty and confidence that the private sector needs to make long-term investments”, Alfred Kammer said.

The official added that the presence of an IMF deal instils in other financial partners a sense of certainty and leads them to provide funds to the Moldovan Government to advance the development and modernization of the country.