The signing of a new agreement with the International Monetary Fund will unblock the external financing intended for Moldova, which will support the national budget. About US$ 70 million and approximately €50 million will be disbursed at the first stage alone, Minister of Economy Octavian Calmac stated in an interview for IPN.
“We reached a staff-level agreement in July. A series of preconditions, prior actions were set for the authorities. As the IMF representative said, we have a positive report produced by the team of negotiators. The Board will announce its decision as regards the new, three-year program with the Republic of Moldova, with all the related financing,” said the minister.
Immediately afterward, the IMF will unblock the first tranche, followed by disbursements by the World Bank and the European Commission. “The IMF will provide about US$180 million, with the first tranche being of US$ 25 million. The World Bank will allocate US$ 45 million, while the European Commission €50 million. All these institutions launched the internal disbursement procedures,” stated Octavian Calmac.
According to the official, the IMF is a technocratic financial institution where the political factor does not have a say. There are procedures and rules. As long as the Republic of Moldova respects all these rules and procedures, there are no risks that the decisions taken earlier will be suspended or annulled. Moldova is appreciated for the made efforts and the authorities are sure that these resources will be disbursed.
The IMF Executive Board meets on November 7 to take a decision as regards a new reform program with Moldova.
