Moldova & IMF IMF Activities Publications Press Releases

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Chisinau-09.10.2001/11:30:09/(BASA-economic) The meeting of the
Executive Board of the International Monetary Fund (IMF) that has to
decide on the de-blocking of foreign financing to the Republic of
Moldova will not take place until the Moldovan authorities fulfill
all agreements mentioned in the suppliment to the Memorandum of
Economic and Financial Policies, negotiated in August.

According to some well informed sources that asked for anonymity,
the progress made in the implementation of these measures was very
little and the Republic of Moldova risked remaining without any
financing this year. "The sitting of the Executive Board could take
place in December this year, February 2002, or in a year from now,
depending on the efforts undertaken by the authorities", declared
the cited sources.

According to them, the IMF officials appreciate that the draft
Budget Law submitted to the Parliament as one "rather good and
socially responsible". At the same time, they have some concerns as
regards the "populist character of some statements made by certain
individuals in the Government and Parliament, such as reduction in
the pension age, price control and introduction of some amendments
to the Law on nominal compensations. These aspects are not part of
the memorandum and are in contradiction with it.

The IMF did not make a final assessment of the intention of the
authorities to reduce the income tax.

Another concern for the Fund is related to the restrictions imposed
on exports. The supplement to the Memorandum stipulates for no
restrictions - licenses or additional taxes - on the export of wood,
nuts, non-ferrous metals, sunflower seeds or any othe rproducts.
The introduction of such restrictions would mean non-fulfillment of
commitments and impossibility to restart crediting.

Moreover, the supplement to the Memorandum speaks about more laws
that have to be approved - the Law on bankruptcy, Law on Free
Economic Zones, on income declaration and Law on financial
institutions. According to the cited sources, part of the drafts s
ent to the Parliament "are not very clear and transparent", a thing
that makes the IMF officials worry.

Another aspect the foreign creditors insist on is the introduction
of the pre-shipment inspection. This is due to the fact that the
volumes of goods declared to be imported in the R.Moldova from other
countries are much smaller than the volumes of goods exported from
the respective countries to Moldova. The pre-shipment inspection
will not solve totally the smuggling problem via Transnistria, but
will allow the customs to pay more attention to Transnistria.
Moreover, the IMF does not insist on the de signation of a certain
company to implement the pre-shipment inspection, but is in favor of
its selection via an international tender.


Chisinau-09.10.2001/11:06:09/(BASA-economic) Sedinta Consiliului Executiv al Fondului Monetar International (FMI) care urmeaza sa decida deblocarea finantarii externe pentru Republica Moldova nu va avea loc pana cand autoritatile moldovene nu vor indeplini toate intelegerile fixate in anexa la Memorandumul bilateral privind politicile economice si financiare, negociata in luna august.

Potrivit unor surse avizate care au solicitat anonimatul, pana in prezent progresul in realizarea acestor masuri a fost foarte mic, astfel incat R.Moldova risca sa nu primeasca finantare in acest an. "Consiliul Executiv ar putea avea loc in decembrie curent sau in februarie 2002, dar si peste un an, in functie de eforturile pe care le va depune statul", au declarat sursele citate.

Potrivit acestora, oficialii FMI apreciaza proiectul legii Bugetului pentru anul viitor prezentat in Parlament drept unul "destul de bun si responsabil din punct de vedere social". In acelasi timp, acestia formuleaza unele rezerve privind "caracterul populist" al unor declaratii ale oficialilor din Parlament si Guvern, cum ar fi reducerea varstei de pensionare, controlul preturilor si operarea unor amendamente la Legea privind compensatiile nominale. Aceste aspecte nu fac parte din Memorandum si vin in contradictie cu acesta.

FMI nu a adoptat inca o pozitie ferma in ceea ce priveste intentia autoritatilor de a reduce impozitul pe venit.

O alta rezerva pe care o are Fondul tine de restrictiile impuse la export. Suplimentul la Memorandum prevede ca nu vor exista restrictii, licente sau taxe suplimentare la exportul lemnului, nucilor, a metalelor neferoase, a semintelor de floarea-soare lui sau a altor produse. Introducerea unor asemenea restrictii va insemna neindeplinirea angajamentelor si imposibilitatea de a relua creditarea.

In plus, suplimentul la Memorandum vorbeste despre mai multe legi care trebuiau adoptate - legea privind falimentul, privind zonele economice libere, privind declararea veniturilor si legea privind institutiile financiare. Potrivit surselor citate, o parte din proiectele trimise in Parlament "nu sunt foarte clare si nici foarte transparente", lucru care ar putea ingrijora oficialii FMI.

Un alt aspect asupra caruia insista creditorii externi este introducerea inspectiei inainte de expeditie. Aceasta, pe motiv ca volumul de marfuri declarate in R.Moldova ca import din alte tari este cu mult mai mic decat volumul exportat din tarile respective cu destinatia Moldova. Inspectia inainte de expeditie nu va solutiona definitiv problema contrabandei prin Transnistria, dar va permite vamei sa accentueze atentia asupra problemei. In plus, FMI nu insista asupra desemnarii unei anumite companii care sa opereze inspectia inainte de expeditie, ci opteaza pentru ca selectia sa se faca prin concurs international.