Implementation of the recent legal initiatives approved by the Moldovan Parliament would pose serious threats to Moldova’s macroeconomic and financial stability, which is already under severe pressures from the COVID-19 pandemic, Rodgers Chawani, IMF Resident Representative in the Republic of Moldova, noted in a statement that is quoted by IPN.
The official said the IMF’s financial support under the new ECF/EFF program is subject to Moldova’s unequivocal commitment to the irreversibility of the past progress and broad political support for the ambitious governance and institutional reform agenda that was agreed with staff earlier this year.
Recently, the governor of the National Bank of Moldova Octavian Armașu said he was sure that a new program with the International Monetary Fund would not be signed by the end of this year, According to him, owing to unfavorable initiatives like the repealing of the law on the issuing of state bonds for the Ministry of Finance to fulfill the payment obligations deriving from the state guarantees or the “billion law”, the IMF will have to take a step back. Also, the eventual negotiations with the IMF will be much more difficult.
