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IMF MISSION AGREES ON RESUMPTION OF ASSISTANCE FOR MOLDOVA

Chisinau-08.08.2001/17:10:10/(BASA-economic) The visiting mission of
the International Monetary Fund (IMF) has agreed to resume the
financial assistance for Moldova, Premier Vasile Tarlev told a news
conference on Wednesday.

Richard Haas, advisor in the IMF's European II Department, showed
satisfaction over the agreement reached with the Moldovan
authorities after a two-week assessment visit to Chisinau. The
resumption of the financing will be based on the memorandum signed
last December, supplemented with concrete actions to which the
government commits itself.

Haas named the adoption of a new law on bankruptcy, maintenance of
positive trends at the macro-economic level, including promotion of
the privatization process.

However, Haas stressed that a final decision on resumption of the
assistance must be approved by the IMF Board in late October or
early November. "Until then, the IMF will deploy small-sized
technical missions to assist the government, including in the work
on the 2002 budget law," said the IMF official.

"The policy led by the Chisinau government may gain the support of
the IMF," said Haas, who also praised Moldova for the 2-percent
growth of the gross domestic product and the 9-percent rate of
inflation this year. He also noted increasing exports and
conservatist monetary policy.

Haas also said said that the negotiations with the Moldovan experts
were difficult "because we have met a new governing team," while the
agreement was described as "realistic, even though a bit ambitious."

Premier Tarlev described the results of the talks with the IMF
mission as "very important for Moldova, even historic." He said that
"the understanding reached on Wednesday with the IMF mission was a
positive sign for other foreign creditors, including for the World
Bank and the Paris Club of Creditors."

The premier added that he was expecting World Bank experts later on
Wednesday to inform them about the results of negotiation with the
Fund.

The IMF's Executive Board approved a three-year loan under the
Poverty Reduction and Growth Facility for Moldova in an amount
equivalent to 110.88 million SDR (about 142 million dollars) on
December 21, 2000. Two tranches, totaling nearly 25 million
dollars, have already been disbursed under the PRGF: the first
tranche of 12 million dollars was disbursed on December 29, 2000 and
the second tranche of 12 million dollars was disbursed on February
23, 2001. The third tranche would be disbursed not earlier than
December.


MISIUNEA FONDULUI MONETAR INTERNATIONAL ESTE PENTRU
RELUAREA FINANTARII REPUBLICII MOLDOVA

8 august 2001

Misiunea Fondului Monetar International (FMI) a ajuns cu Guvernul de la Chisinau la un acord de reluare a finantarii Republicii Moldova.

Richard Haas, director regional la Fondul Monetar International, care s-a aflat timp de 2 saptamani in RM in fruntea unei delegatii de evaluare, a comunicat astazi intr-o conferinta de presa ca reluarea finantarii se va face in baza Memorandumului semnat in noiembrie anul trecut, precizat printr-un supliment de actiuni concrete pe care Executivul s-a angajat sa le execute.

In particular, Richard Haas a precizat ca este vorba despre aprobarea noii legi cu privire la faliment, elaborata cu asistenta FMI, pastrarea tendintelor pozitive la nivel macroeconomic, inclusiv promovarea procesului de privatizare. Richard Haas a subliniat ca decizia finala despre reluarea finantarii ar putea fi aprobata de catre Consiliul Executiv al FMI, care ar putea sa examineze aceasta problema la sfarsitul lunii octombrie - inceputul lunii noiembrie a.c. "Pana atunci la Chisinau vor sosi mici misiuni tehnice ale FMI, care vor acorda asistenta necesara, inclusiv la elaborarea proiectului legii bugetului pentru anul viitor", a mentionat reprezentantul FMI.

"Politica dusa de catre Guvernul de la Chisinau poate fi sustinuta de catre FMI" a spus Haas, aratandu-se multumit de faptul ca anul curent produsul intern brut al RM s-a marit cu 2 la suta, nivelul inflatiei este de 9%, cresc exporturile, politica monetara este conservativa, iar rata de schimb se modifica doar in functie de inflatie.

Pe de alta parte, Richard Haas a spus ca negocierile cu expertii moldoveni au fost dificile "deoarece este vorba de o echipa guvernamentala noua, pentru care si noi suntem noi", iar acordul la care s-a convenit l-a apreciat drept "realist, chiar daca este ambitios".

Premierul Vasile Tarlev a apreciat rezultatul negocierilor cu Misiunea FMI drept "foarte important pentru RM, chiar istoric". Tarlev a spus ca "intelegerea de astazi cu Misiunea FMI reprezinta un semnal pozitiv pentru alti creditori externi, inclusiv pentru Banca Mondiala si Clubul creditorilor de la Paris in vederea restructurarii datoriei externe". Premierul a mai precizat ca pana la sfarsitul zilei curente va avea o intalnire cu experti ai Bancii Mondiale in vederea informarii despre acordul cu FMI si negocierea asistentei din partea BM.

Consiliul Executiv al FMI a aprobat la 21 decembrie 2000 un credit pe trei ani in cadrul Mecanismului de Reducere a Saraciei si de Crestere Economica pentru R. Moldova in suma echivalenta cu 110,88 milioane SDR (aproximativ 142 milioane dolari SUA). FMI a acordat din acest credit, la 29 decembrie 2000 si 23 februarie 2001, doua transe in suma totala de circa 25 milioane dolari SUA. Transa a treia ar putea acordata nu mai devreme de sfartitul acestui an.

BASA-PRESS