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Basa-Press News Agency:
Interview with Hassan Al-Atrash, Resident Representative of the
International Monetary Fund to Moldova (continued) 

Chisinau-16.05.2001/10:05:20/(BASA-economic)

THE IMAGE OF THE STATE SEEMS UNFAVORABLE FOR 
INVESTMENTS SAYS THE IMF RESIDENT REPRESENTATIVE

In the Republic of Moldova, there seems to be an unfavorable climate for 
foreign investment, which is partially due to a perception that corruption
is widespread, declared the Resident Representative of the
International Monetary Fund in Chisinau, Hassan Al-Atrash.

According to him, this image to a large extent is due to imperfections
in the legal framework, which allows for discretionary powers and
occasional abuse. Still, in the opinion of Hassan Al-Atrash, the fact
that during the last year there has been little interest by investors in
Moldova is also due to the treatment of investors that are already
present in Moldova, such as "Union Fenosa".

In order to redress the legal imperfections, the International Monetary
Fund has provided technical assistance, including on the Law on Free
Economic Zones and has urged the adoption of the Civil Code, the laws on
restructuring, and bankruptcy of enterpr ises, and banking laws.

The Resident Representative of the IMF emphasized that privatization,
including of the two REDs in the north, should be done in a competitive,
transparent manner - and for cash. It should not be done to write-off
questionable debts. "It would be importan t to continue with open and
transparent privatization, so that the money comes to the budget and not
to reduce questionable debts", said Al-Atrash.

As regards the recent declaration of the Moldovan President Vladimir
Voronin, who said the principles of cooperation with international
financial institutions should be revised, because the actual system
proved to be inefficient, Hassan Al-Atrash said th at the IMF has
started to focus much more on Poverty issues and is currently providing
credits on more favorable conditions for the Republic of Moldova.

"I welcome the interest of the President in future cooperation with the
IMF. We hope that the Government will implement what was set out in the
Memorandum, a document that has a strong social orientation - the stress
is on poverty reduction, reducing arr ears on pensions and salaries, and
increasing expenditures on education, health and social assistance. We
are providing assistance on concessional terms, which should ease the
debt burden" said Al-Atrash.

In a recent declaration, the Resident Representative of the IMF in
Chisinau appreciated that presently the relations of the Republic of
Moldova with the international financial organizations are at a critical
juncture, because the new economic program co ntains some measures that
may be inconsistent with the provisions of the Memorandum.


Agentia de presa "Basa-Press":
Interviu cu Hassan Al-Atrash, reprezentantul permanent al Fondului Monetar International in Moldova (continuare)

Chisinau-16.05.2001/10:05:20/(BASA-economic)

IMAGINEA REPUBLICII MOLDOVA PARE A FI NEFAVORABILA PENTRU
INVESTITII, SUSTINE REPREZENTANTUL FMI LA CHISINAU

Chisinau-15.05.2001/15:55:19/(BASA-economic) on Republica Moldova se
pare ca exista un mediu nefavorabil pentru investitii straine, inclusiv
datorita unei impresii ca fenomenul coruptiei este foarte raspondit, a
declarat reprezentantul permanent al Fondului Monetar International la
Chisinau, Hassan Al-Atrash.

Potrivit lui, aceasta imagine se datoreaza in mare masura imperfectiunii
cadrului juridic, care lasa teren pentru abuzuri ocazionale. Totusi, in
opinia lui Hassan Al-Atrash, faptul ca in ultimul an interesul
investitorilor straini pentru R.Moldova a fost unul scazut se datoreaza
si tratamentului la care sunt supusi investitorii care au ajuns deja in
R.Moldova, ca de exemplu Union Fenosa.

Pentru a redresa imperfectiunile juridice, Fondul Monetar acorda
asistenta tehnica, inclusiv in ceea ce priveste legea privind zonele
economice libere si recomanda adoptarea cot mai urgenta a Codului Civil,
a legii privind restructurarea si falimentul intreprinderilor si legile
privind institutiile bancare.

Reprezentantul FMI a mentionat ca privatizarea, inclusiv a celor doua
RED-uri din nordul R.Moldova urmeaza sa fie efectuata intr-un mod
competitiv si transparent, contra bani. "Este important sa continuam cu
privatizarea in mod deschis, pentru ca banii sa vina la buget si nu la
reducerea unor datorii suspecte", a spus Al-Atrash.

Recent, conducerea R.Moldova si-a formulat intentia de a concesiona cele
doua RED-uri din nordul tarii companiei ruse "Itera" in schimbul unor
datorii.

Cu referire la recenta declaratie a presedintelui Vladimir Voronin, care
a spus ca principiile de conlucrare cu organismele financiare
internationale ar trebui revazute, deoarece sistemul actual si-a
demonstrat ineficienta, Hassan Al-Atrash a spus ca FMI a inceput sa
acorde o atentie mai mare problemelor ce tin de saracie si in prezent
acorda credite in conditii mai avantajoase pentru R.Moldova.

"Salut interesul presedintelui de a colabora in continuare cu FMI.
Contam, in primul rond, pe faptul ca Guvernul va realiza ce am stabilit
in Memorandum, document care are o puternica orientare sociala - se pune
accentul pe reducerea saraciei, reducerea restantelor la pensii si
salarii, majorarea cheltuielilor pentru invatamont, sanatate si
asistenta sociala. Acordam bani in conditii concesionale, ceea ce
inseamna usurarea poverii datoriei", a mai spus Hassan Al-Atrash.

ontr-o declaratie recenta, reprezentantul FMI la Chisinau a apreciat ca
in prezent relatiile R.Moldova cu organismele financiare internationale
sunt la un moment critic, deoarece noul program economic contine coteva
prevederi care nu sunt compatibile cu prevederile Memorandumului.