Losses from halting wine exports backed up by IMF credits

The credits offered by the International Monetary Fund (IMF) on the grounds of the Agreement signed recently with Moldova could be also used for reducing the negative impact produced by the bans imposed to Moldovan wine exports. According to the quoted source, IMF monitors closely „the wine crisis”. „We are concerned but at the same time we are positive that the banking system of the Republic of Moldova is strong enough and will be able to overcome these difficulties” Also, Mathisen mentioned that, if needed, IMF credits can diminish this economic shock. At the same conference, the prime-minister Vasile Tarlev said that there were already undertaken some actions aimed to diminish the impact of the Moldovan wine embargo imposed by Russia on the national economy. The prime-minister noted that these actions are directed towards the diversification of the market and reduction of losses. In this context, Tarlev said that the actions of the Russian authorities, namely the destruction of the Moldovan wines with bulldozers, broadcasted on TV, are „only some shows” at which Moldovan authorities are going to react, but only in the presence of arguments. „We want to maintain the partnership relations with Russia and we hope this situation will come to en end shortly. The Republic of Moldova will not renounce to such a market as Russia’s. We will fight for each square meter of the market, regardless of the involved country”, declared the prime-minister. The prime-minister also noted the positive aspect of this problem – Moldova made some conclusions, fact that will allow the Moldovan economy to become more stable and less politically and economically dependent on certain countries. According to him, Moldova has no thoughts of politicizing the situation and will not oppose to the adhering of Russia to the World Trade Organization, with the only condition that Russia respects all the requests of the Organization. The Russian Federation banned the commercialization of Moldovan wines on March 27, justifying that the wines are not qualitative and contain noxious substances.