Economic

A new help from the IMF. The Republic of Moldova will receive $27 million for budget support

The International Monetary Fund will allocate 27 million US dollars to the Republic of Moldova for budget support. The announcement was made by the IMF after the organisation's board of directors completed the second evaluation of the 40-month program.

According to the IMF, the total amount disbursed under the ECF/EFF program will reach approximately 275 million US dollars.

Following discussions within the Board of Executive Directors, the IMF Deputy Director and Acting Chairman of the meeting, Kenji Okamura, said that despite the challenges, the authorities in Chisinau are firmly implementing the IMF-supported program.

"The authorities have successfully fulfilled structural commitments on public investment management, reform of the state-owned enterprise sector and financial sector governance. The program's reform agenda has been further strengthened by the inclusion of six new structural performance criteria to ensure the implementation of priority reform measures," Okamura noted.

At the same time, the deputy director of the IMF emphasised that maintaining an appropriate policy mix in the future would play an essential role in mitigating the risks of negative developments.

"Continuous efforts are needed to make spending more efficient, increase the credibility of the budget and mobilise domestic revenues. It is necessary to accelerate the reform of the state enterprises sector with the aim of increasing efficiency and mitigating budgetary risks, but also to carry out broader reforms in the field of governance, justice and the fight against corruption, in order to support economic growth", stated Kenji Okamura.

Carolina Străjescu

Carolina Străjescu

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