IMF will sign new agreement with Moldova on certain conditions, Mihai Ghimpu

Head of Parliament and Acting President of Moldova Mihai Ghimpu, during a program on Radio Moldova, said that Moldova's development partner, the International Monetary Fund (IMF), will sign the new agreement with Moldova on certain conditions, Info-Prim Neo reports. “Despite our poverty, we will have to accept a number of tough conditions imposed by the IMF. Without this agreement, no foreign donor will provide us financing to overcome the consequences of the crises and the problems left by the previous government,” Ghimpu said. According to Ghimpu, a state that is based on consumption and collection of import duties and taxes on remittances cannot achieve durable results. There should be promoted reforms, improved the business climate and attracted investments into all the sectors of the national economy. The caretaker president stressed that the present administration wants that the EU specifies what European integration prospects Moldova has. Also, Moldova must make use of the possibilities offered by the EU though its Eastern Partnership. The participating countries will be allocated financial resource depending on the presented projects. As to the loan promised by Russia, Ghimpu said there was no document showing that Russia will provide a US$500 million loan to Moldova, as the former head of state Vladimir Voronin and senior officials of the previous government asserted. The State Duma of Russia approved a decision to grant a US$150 million loan to Moldova and the readiness to provide it was confirmed at the bilateral meetings held on the sidelines of the CIS summit in Chisinau. The conditions of the loan are yet to be discussed. If the money is not allocated this year, the State Duma will have to make another decision, Mihai Ghimpu said. According to him, if obtained, the loan will be used to cover the budget deficit projected to reach about 8 billion lei this year.