IMF postpones visit to Moldova due to non-compliance with recommendations
The International Monetary Fund (IMF) postpones a meeting with the Moldovan authorities which was due to take place this week. In a press statement issued on Monday, IMF Resident Representative in the Republic of Moldova Tokhir Mirzoev said the meeting was put off to a later time “as agreed with the authorities.”
“In response to media questions regarding the timing of the next IMF mission to hold discussions with the Moldovan authorities in the context of the sixth reviews of their IMF-supported program under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements, we would like to inform, that the mission has been postponed as agreed with the authorities,” Tokhir Mirzoev said.
The IMF urges the Moldovan authorities to tackle the issue concerning Banca de Economii and adopt the necessary fiscal policies to support the budget. Based on the statement, it seems that the Moldovan side did not comply with the recommendations given by the IMF in November 2012.
“We urge the authorities to proceed with the implementation of measures needed to complete the sixth and final reviews of the program—including stabilization of Banca de Economii and adoption of necessary fiscal policies to support the budget,” the statement said.
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