A mission of the European Department of the International Monetary Fund (IMF)
headed by Mr. Graeme Justice visited Chişinău during May 7-20, 2008.
main task of the IMF mission has been to conduct the Fourth Review under the
The mission was pleased to note that performance under the program so far
has been positive. Growth prospects for 2008 are good, especially if the
harvest is good. Investment is also picking up. However, the mission shares
the government’s concerns about the impact of higher food and energy
prices, and has discussed the appropriate policy response to dampen
inflationary pressures in the economy, and curtail the growing current
This has been reflected in the updated Memorandum of Economic and Financial
Policies (MEFP) for the remainder of 2008. This agreement, as always, will
need to be reviewed by the IMF Management, following which it will be
submitted to the IMF’s Executive Directors for consideration. It is hoped
that the transfer of the next tranche of about 18 million USD will be
approved in July 2008.