Prime Minister Pavel Filip said the approval of the agreement with the International Monetary Fund represents the beginning of profound reforms, supported by international expertise. In a posting on a social networking site, the Premier says this is a commitment that Moldova assumed before the foreign partners and that will be fulfilled, IPN reports.

According to Pavel Filip, the unblocking of external financing and the economic recovery of Moldova will be an important effect of the approval of the program with the IMF. “In several days, we will make public the main lines on which the program with the IMF is based so that the people are informed as correctly as possible,” he wrote.

On November 7, the Executive Board of the IMF approved three-year arrangements under the Extended Fund Facility and the Extended Credit Facility with the Republic of Moldova to support the country’s economic and financial reform program. The cumulative access under the arrangements is about US$178.7 million, or 75 percent of the Republic of Moldova’s quota.