Siegfried Mureșan: Agreement with IMF opens up doors for new EU financing

01.12.2021 06:50
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3 minute(s)

Romanian MEP Siegfried Mureșan said the European Union is preparing a new financial assistance package for the Republic of Moldova. He avoided specifying its value, but noted that the provision of this money is conditional upon the signing of a new program with the International Monterey Fund as this is a guarantee of political stability in Moldova, IPN reports.

Siegfried Mureșan noted the EU is analyzing IMF experts’ conclusions concerning the Republic of Moldova and the signing of a new assistance program with the IMF will be followed by the provision of EU funds, possibly as budget support.

“The agreement with the IMF is an economic confidence certificate. This shows that the IMF, together with all its economists, trusts that the Republic of Moldova follows the right economic and social path, is attractive to investors and ensures political stability. It is a certificate of appropriate political and economic behavior. This agreement implies investments, economic development potential,” Siegfried Mureșan stated in the talk show “Emphasis on Today” on TVR Moldova channel.

The MEP noted that if the Republic of Moldova signs a new program with the IMF until the end of this year, the EU could disburse funds in the first half of 2022. The macro-financial assistance package, budget support from the European Commission, will be probably presented during the next few weeks. The assistance proposed by the European Commission is to be approved by the Council of the European Union and the European Parliament.

IMF staff and the Moldovan authorities have reached a staff-level agreement on a 40-month US$564 million economic reform program to be supported by three-year Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangements. The staff-level agreement is subject to IMF Management and Executive Board approval. The Board’s consideration is expected in December.

MEP Siegfried Mureșan, who heads the European Parliament’s Delegation to the EU-Moldova Parliamentary Association Committee, is in Chisinau on a working visit, alongside a European Parliament delegation, in connection with the tenth annual meeting of the Committee that was slated for December 2. This will be the first meeting with physical presence since the start of the COVID-19 pandemic.