IMF monitoring mission begins work in Moldova

A mission of the European Department of the International Monetary Fund (IMF) headed by Nikolay Gueorguiev will work in Chisinau between April 28 and May 13. On the first work day, Nikolay Gueorguiev had a meeting with Premier Vlad Filat, Info-Prim Neo reports, quoting the Government's press service. During its two-week stay, the mission will conduct the first review of the Moldova’s program with the IMF under ECF/EFF arrangement, as well as hold consultations under Article IV of the IMF’s Articles of Agreement. Nikolay Gueorguiev said the mission will take stock of the recent economic developments and program implementation, update its assessment of the macroeconomic outlook, and discuss with the authorities macroeconomic and structural policies in the period ahead. He also said that the IMF experts will pay a visit to the Transnistrian region to familiarize themselves with the economic situation there. According to Prime Minister Vlad Filat, Moldova fulfilled a part of the conditions imposed by the the IMF and will continue to fulfill them. “We are ready to discuss whenever there is a need to identify the best formulas for Moldova and its people,” Filat said. Under the economic program with the IMF for 2010-2012, Moldova will be granted a loan of US$574.4 million repayable in ten years, with an annual interest rate of 0.25%.