The IMF will continue to provide assistance to Moldova for economic recovery, development of a stable and predictable economic environment in the process of accession to the EU
This was discussed during a meeting that Moldovan President Maia Sandu held in Chisinau with Deputy Director of the European Department of the International Monetary Fund Mark Horton and IMF Executive Director Paul Hilbers. According to the press service of the head of state, during the meeting were discussed the situation in the country and the region, recent economic events, as well as IMF assistance to restore Moldova’s economy and develop a stable and predictable economic environment in the process of joining the EU. Maia Sandu thanked the IMF representatives for their partnership and constant assistance to maintain the economic stability of Moldova. According to her, a stable and sustainable economic environment promotes economic development, ensures the well-being of people and facilitates the process of accession to the European Union. It was noted that in addition to the existing Policy Program with the IMF, Moldova will take advantage of a new financing and support mechanism to achieve resilience and long-term sustainability (RFS). The new resilience and long-term sustainability will support government efforts to address climate challenges, including building climate resilience and strengthening energy security. Negotiations have been completed, and a positive decision by the IMF Board of Directors is expected in early December. As InfoMarket previously reported, the Moldovan authorities and the IMF mission reported on October 17 that they had agreed to complete the 4th review of the financing program and after approval of this agreement by the Fund’s Executive Board, our country would receive a new tranche in the amount of about $92 million, bringing the total amount of provided funds under the program to amount to about $461.3 million. In addition, Moldova plans to introduce a new 22-month RSF program, providing funding of approximately $169 million to support the implementation of a reform program aimed at addressing climate change challenges. The resilience and long-term sustainability program will focus on improving the legal, institutional and financial environment to accelerate climate action (including climate-smart infrastructure and energy sector policies) and to mobilize green finance.// 29.11.2023 — InfoMarket
