Minister of Finance Octavian Armasu and National Bank Governor Sergiu Cioclea were empowered to sign the lending agreement between the Republic of Moldova and the European Union on €100 million in macro-financial assistance and the memorandum of understanding as a component part of this agreement by a Government decision, IPN reports.
“The European Union could soon sign the agreement and in the course of 2018 we will receive the money in three tranches,” said Octavian Armasu. He noted political conditionality was imposed, namely that the parliamentary elections next year should be held correctly. There are also 28 conditions concerning economic and social reforms agreed by Moldova with the EU.
“We must implement ten measures for obtaining the first tranche in the first months of next year. We are close to fulfilling them. They are manly related to ensuring of macroeconomic stability and public finances,” stated the minister, assuring that his colleagues on the Cabinet do their best to implement the new electoral system in accordance with the recommendations of the Venice Commission.
