Thursday, January 23, 2003
IMF Mission to Moldova will discuss conditions upon its
IMF Mission to Moldova made official at the end of last week that the visit of
the IMF delegation from Washington will be delayed. Officials said the visit is
scheduled by the end of February or the beginning of March. The financial
crediting of Moldova has been, therefore, suspended until later dates. This has
in turn entailed the deferment of financing by European Union and World Bank and
such donor countries as Sweden and Holland.
The resumption of crediting to Moldova is directly influenced by and dependent
upon the International Monetary Fund, authorized to exert control over the
financial standing of Moldova and the fulfilment of obligations crucial for
Moldova’s adequate financial functioning. The IMF is also influential in terms
of Moldova’s success and failure in the process of debts’ restructuring in the
Paris Club, and, thereafter, the country’s economic and political ability to
In an interview for the Chisinau
Observer, Mr Edgardo Ruggiero, the Resident Representative of the IMF in
Moldova, shed some light upon the matters in question.
CO.: How soon will the IMF resume
crediting to Moldova under the Poverty Reduction and Financial Growth Programme
and what are the conditions that Moldova is to fulfil?
E.R.: The financing for the programme
will start only after the Mission comes to Moldova. The Mission will come and we
will agree with the government about the set of policies. After the Mission
leaves, we see the situation more clearly - within a minimum of one and a half
month to two months. But this is only if it is a crisis situation, but Moldova
is not such an example. It depends very much on the date when the Mission comes
are the conditions that Moldova should fulfil? These questions cannot be
answered specifically. I prefer not to think in terms of conditions; I will
think more in terms of policies that we have agreed upon. For example, in order
to achieve a certain objective, you need to implement certain policies. You may
think of them as conditions, but these are conditions in the sense that, without
them, you cannot achieve objectives that the government set for itself. We try
to overlook the meaning of conditions; we look at them as elements of economic
The conditions are the functions of what we want to achieve with the programme.
The three conditions that we had agreed upon last October were relevant for the
programme and are still relevant now. The Mission will come and discuss them
with the government. Those conditions may be changed. At this point we cannot
know for sure.
By Irina Severin