Graeme Justice: Authorities should put emphasis on economic growth determined by development of private sector
Moldovan authorities should put an emphasis on the enhancing economic growth determined by the private sector development, stated Graeme Justice, Head of the IMF Mission, for the press on Thursday, December 20.
At the same time, Justice has appreciated as "good" the budget for 2008 saying that despite the external shocks and the drought, Moldova had a rather good economic growth. He stressed that very few countries in the world would have managed such a performance in these circumstance.
According to the head of the IMF mission, at present Moldova is no more listed by the IMF as a low-income country. Now it its enlisted officially under "early transition stage".
The IMF official stated that currently the greatest concern is the growing inflation. He appreciated BNM's anti-inflationist efforts and told that disinflation is the central bank's key objective.
According to the head of the mission, Moldovan authorities still have a lot of arrears in terms of structural reforms. "The list is yet rather long, and the authorities have a lot of things to do here, in particular ensure a business environment which currently is "poor". A number of businesspeople we met during our stay in Chisinau have claims about authorities' actions", said Graeme Justice.
The same source said that the second stage of Guillotine is to improve essentially the business climate.
In another context, the head of the IMF mission described as "ambitious" the privatization programme approved by the Government noting that IMF supports the efforts.
Asked to refer to the privatization of Moldtelecom and Banca de Economii, Justice avoided providing details on grounds that disclosure of information about the privatization of significant enterprises of an economy is a rather sensitive matter. According to him, the information about the privatization of these companies would be announced by the Government, "when it considers necessary to do that".
Justice also stated that in March 2008 the mission will table the memorandum with the Moldovan Government to the IMF Board of Governors. At the same time, he avoided referring to the future financing of Moldova.
The IMF assessment mission paid a visit to Moldova from 10 to 20 December 2007. During this period, the members of the mission had meetings with government and ministerial officials, foreign investors and businesspeople.
During the meeting with Premier Vasile Tarlev, the head of the mission stressed IMF's readiness to provide further the Executive with the necessary support to achieve the joint goal consisting in economic growth of Moldova, macroeconomic stability and development of the financial-banking sector.
On 5 May 2006, IMF approved, after a break of several years, a new financing programme for Moldova worth 118.5 mln USD. The same month it made the first disbursement of 17 mln USD. At the end of last year, the Fund accepted to augment the loan to 167 mln USD and make the second disbursement of 48.2 mln USD. In June 2007, IMF provided Moldova with a new disbursement of 33 mln USD.
19.12.2007
Legislative draft to ban electoral blocks to be examined in first reading
The draft of a legislative initiative which stipulates the prohibition of electoral blocks to be put forward for examination in the first reading on December 27, 2008.
The draft, which has been put forward by the communist MPs, stipulates also that people who have double citizenship; the ones with criminal records should be unable to candidate for local and central offices. // BASA-Press
- MoE adopts regulations on gastarbeiter money attraction according to pare 1+1 program
- Moldovan government, World Bank sign economic, climate-related projects
- Mnistry of finances presents unique budget development methodology
- Denmark to allot 4.5 million euros for Moldova's private sector
- Ever more russian businessmen choosing to leave Russia permanently
- Moldovan public employees earn more than those in private sector
- Graeme Justice: Authorities should put emphasis on economic growth determined by development of private sector
- Morocco eyes W. Sahara development
- Development Region Centre: creation process and prospects
- Communications Play Vital Role In Development, UN-Backed Conference Told
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India