IMF team begins talks on new agreements with Moldova on September 27

By bne IntelliNews September 24, 2021

A team of experts from the International Monetary Fund (IMF), led by Ruben Atoyan, will begin discussions with the authorities of the Republic of Moldova on September 27.

This will be the Fund’s first meeting with the Moldovan authorities after the change of government this summer.

The IMF disbursed $236mn to the accounts of the National Bank of Moldova (BNM)at the end of August, as financial support aimed at helping the country mitigate the effects of the COVID-19 pandemic.

The money is Moldova’s tranche of the general allocation of Special Drawing Rights (SDRs) equivalent to $650bn (about SDR 456bn) approved by the board of governors of the IMF on August 2, to boost global liquidity.

Separately, Moldova is negotiating three-year arrangements with the IMF with $558mn loans attached, with the Fund’s experts expected to resume talks initiated in July at the end of September.

During its visit that begins on September 27, the IMF mission will hold talks under the 2021 Article IV consultations, as well as on the authorities' request for the new programme that focuses on a set of policies to lay the groundwork for recovery from the COVID-19 pandemic and the pursuit of reforms related to good governance and institutional reforms.

According to an IMF statement, the new programme will build on the progress made under the previous programme and will aim to support Moldova's economic recovery after overcoming the COVID-19 pandemic and advancing the implementation of ambitious institutional reforms.

The main topics discussed during the discussions were the medium-term priorities of the ministry in terms of budget, namely the restructuring of the government and the redistribution of expenditures in this regard, the rectification of the state budget for 2021 and the planning of the budget for 2022, to be approved by the beginning of December of this year.

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