Prime Minister Ion Chicu had a meeting with a team of experts of the International Monetary Fund, led by Ruben Atoyan. The sides initiated negotiations on a new programme with IMF. Attending the online meeting was also Governor of the National Bank of Moldova Octavian Armasu.

„The financial support on behalf of IMF is essential for Moldova, the economy of which was clearly hit by the COVID-19 pandemic. We are ready to discuss and fulfill those several important points provided for in the agreement on financing and to continue the cooperation. Especially that the last programme with IMF was carried out successfully,’’ PM Chicu said.

During two weeks, the IMF mission will hold discussions with Moldova’s authorities on a new ambitious programme, due to be carried out in the next three years (20920-2023). The programme will be based on actions to back the economy, promotion of good fiscal and financial governance, strengthening the rule of law state, anticorruption measures and other fields.  

The financial support amounts to 550 million dollars. Most of the sum will be used as budgetary support and a small part – for filling the currency reserves.  

The participants in the meeting discussed also the political instability in Moldova, which represents the only imminent risk which might hinder the fulfillment of the commitments demanded by IMF. Thus, the mission will involve in discussions also several political forces from parliament.  

In this respect, in next September, the Memorandum is to be discussed at the IMF Board.

In last April, the IMF Board of Directors approved an emergency loan worth 230,000,000 dollars for Moldova, provided for budgetary support, in the conditions of economic contraction forecasts. The government appealed to the Fund in March 2020, to back Moldova in overcoming the economic crisis triggered by the pandemic.