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.

Related Articles

EBRD lending €5mn to Bosnian UniCredit Bank Banja Luka

The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to €5mn to UniCredit Bank Banja Luka in Bosnia & Herzegovina to improve access to finance for local small ... more

EBRD to lend €25mn to Montenegro for passenger trains, railway maintenance equipment

The European Bank for Reconstruction and Development (EBRD) said it intends to lend a total of €25mn to Montenegro to buy passenger trains and railway maintenance equipment. Of the total ... more

EBRD extends €10mn debt and equity financing package to Romania’s biggest FMCG distributor

The European Bank for Reconstruction and Development (EBRD) announced that it agreed to the terms of a €5mn loan extended by the bank to the Romanian FMCG group Aquila ... more