IMF to resume funding Moldova before the end of 2000

• Posted Wednesday, 26 July, 2000 - 18:16 EST by Interlic

The International Monetary Fund is intending to resume the external financing of Moldova in the frames of the new assistance program on poverty reduction and on the attainment of stable economic growth before the end of the year 2000, INTERLIC News agency reports.

As IMF Mission head and Advisor of the IMF Second European Department Richard Haas declared at a press conference, the size of this assistance will depend, in the first place, on the needs of the country and on the extent of the run-up of a special program of IMF activities, which program includes 100 items and is designed for 3 years. This document should be submitted by the end of September.

The IMF mission is expected to visit Chisinau in October again. The IMF representative and the government officials will discuss all the problems, relating to the proposed program and will commit it to the IMF and the WB Board of Directors for approval. The sides are expected to sign an Agreement Memorandum, which will allow the republic to receive the first tranche by the end of 2000.

As Richard Haas underlined, the release in the IMF Financing will allow Moldova to obtain financing from other sources – the World Bank, the members states of the European Union and from the donor countries in the frames of bilateral cooperation, INTERLIC News agency reports.