Moldovan government honoured commitments towards IMF
The Moldovan government has honoured all the commitments it assumed during negotiations with the International Monetary Fund and a new memorandum agreement, which provides for 590 million dollars for Moldova, is expected to be approved by the IMF Executive Board on 29 January 2010.
Prime Minister Vlad Filat made the statements at a 4 December news conference during which he presented the results his cabinet achieved in the first 100 days of activity.
Filat said that the proceeds seen in the agreement with the IMF would supplement the low incomes to the state budget and will also give the government the possibility of honouring its internal and external obligations. At the same time, the new cooperation agreement with the IMF, would allow unblocking financial assistance programmes of other organizations and donor states that had been previously halted, Filat said.
In the context, he specified that the government had already obtained 177 million Special Drawing Rights from the IMF (about 180 million dollars) to cover budgetary needs. Consequently, the European Commission gave Moldova the first installment of financial assistance worth 15 million euros to implement reforms in the sector of water supply and sewerage. The EU gave Moldova 12 million euros to modernize the road network and the third installment of 6 million euros as budgetary support for the social sector. These proceeds were disbursed in December 2009.
Filat said that the government engaged into a pro-active cooperation process with development partners in order to mobilize additional funds for capital investment. In the context, the prime minister recalled that the Compact Programme of the US Millennium Challenge Corporation, approved on 30 November 2009, envisages 262 million dollars in assistance for Moldova to develop high-value agriculture and improve road infrastructure.
Moldpres (Moldova's State news agency)
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