The IMF's Executive Board will consider the mission's report in December if several preliminary measures are implemented.
As reported by the press service of the IMF, the head of the IMF expert mission Ruben Atoyan said this after the online discussions on the new program of the Moldovan government with the fund. The agreement on the new program was reached at the expert level following the mission, which took place on 27 September. He stressed that the agreement reached at the expert level is subject to approval by the IMF management and the Fund's Executive Board. “We expect the IMF's Executive Board to consider the mission's report in December if several preliminary measures are implemented, including measures to ensure the independence of the central bank, correct past mistakes in advancing policies and adopt credible budget plans,” he stressed. According to Ruben Atoyan, the new program will help support economic recovery and promote multi-year institutional and public administration reforms to restore the necessary reserves to implement the outlined policies and promote rapid, inclusive and sustainable income growth. Reform priorities span the areas identified in the IMF's governance framework, including enhancing transparency and accountability, increasing predictability in government policies, strengthening financial institutions, and promoting deregulation and promoting competition. As Ruben Atoyan noted, widespread deficiencies in public administration and structural problems continue to impede sustainable improvements in the living standards of Moldovan citizens amid the ongoing COVID-19 pandemic: government spending is ineffective, infrastructure is poor and inaccessible, an underdeveloped business environment restricts private investment and productivity, mechanisms to ensure the rule of law and the fight against corruption is ineffective, the high level of emigration inhibits the accumulation of human capital.// 21.10.2021 — InfoMarket
