The signing of an agreement with the International Monetary Fund (IMF) means, first of all, the unblocking of external financing for the Republic of Moldova. This is how Prime Minister Pavel Filip and Speaker of Parliament Andrian Candu commented on the IMF’s decision to approve a new program for Moldova, IPN reports.
In a joint press briefing, the Premier said that through this new program with the IMF, the authorities aim to complete the reformation of the legal framework so as to ensure the prevention of money laundering, the fight against corruption and enhancement of transparency. Measures will be taken to strengthen governance in banks, to adopt balanced fiscal-budgetary policy, etc. “We will ensure greater transparency and responsibility in the implementation of investment projects with external financing. The agreement also envisions measures to gradually restore the viability of the energy sector,” stated Pavel Filip.
According to him, the cumulative access under the three-year arrangements under the Extended Fund Facility and the Extended Credit Facility with Moldova is about US$178.7 million. An amount equivalent to about US$35.9 million will be made available to the Moldovan authorities immediately following the approval of the arrangements. The remaining amount will be phased in over the duration of the program, subject to five semi-annual program reviews by the IMF.
For his part, Andrian Candu said the decision of the IMF is a message for change. “Now the Republic of Moldova enjoys credibility and we have the chance to become again that success story that we were. The decision is a signal for the external partners and foreign investors,” he stated. According to the Speaker, the IMF’s decision brought to an end an unfavorable chapter in the recent history of Moldova. “Now we can say loudly that the credibility crisis is over and we can initiate the stage of modernizing the Republic of Moldova.”
The official called on the political forces to leave aside the election fever as the country needs political stability. “We are ready to cooperate with the future President so as to do the reforms we undertook. No matter who Moldova’s next President is, a woman or a man, we expect that this will contribute to reforms and will work with dedication,” stated Andrian Candu.
He noted that Parliament will ensure the implementation of reforms, while the semi-annual program reviews by the IMF will ensure the transparency needed by the country.
