Visit of IMF mission to Chisinau postponed

The next International Monetary Fund mission to hold discussions with the Moldovan authorities in the context of the sixth reviews of their IMF-supported program under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements has been postponed as agreed with the authorities, it is said in a press statement from the IMF Resident Representative in the Republic of Moldova Tokhir Mirzoev, Info-Prim Neo reports. The authorities are urged to proceed with the implementation of measures needed to complete the sixth and final reviews of the program - including stabilization of Banca de Economii and adoption of necessary fiscal policies to support the budget - as discussed with the IMF mission that visited Chisinau in November 2012. The situation at Banca de Economiei became the focus of attention after reports showed that in 2012 the bank sustained losses of 313 million lei owing to delinquent loans.