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IMF WILL SUPPORT MOLDOVA'S TALKS WITH PARIS CLUB FOR FOREIGN DEBTS RESTRUCTURING, PREMIER TARLEV SAYS

Chisinau-30.10.2002/14:46:33/(BASA-economic) Experts from the
International Monetary Fund promised to back the government's talks
with the Paris Club in its efforts to restructure Moldova's foreign
debts, Premier Vasile Tarlev told a news conference on Wednesday.

Tarlev specified that following the two-week negotiations with the
IMF on the 2003 budgetary-fiscal policy and draft additional
memorandum, the government agreed to increase the income tax for
businesses from 20 percent, the level set up by the 2003 draft budget
law, up to 22 percent, in line with IMF's demands. The government
also agreed to keep the level of social ensurance tax at the 2002
level of 29 percent and not the planned 27 percent.

Talking about the preshipment inspection, Vasile Tarlev said that
sides agreed that the government and parliament initiate the drafting
of a special law in the field, adding that the issue on the SGS
Moldova company, which renders the preshipment services, will be
resumed in the next round of negotiations.

The premier added that the next tranche of the IMF credit within the
Poverty Reduction and Economic Growth Facility could be disbursed to
Moldova late 2002 or early 2003.

In December 2000, the IMF approved a 110.88-million-SDR credit (147
million dollars) within the Poverty Reduction and Economic Growth
Facility, of which Chisinau has already received three tranches in
the amount of 37 million dollars.

CHISINAU HAS TO FULFILL THREE MORE CONDITIONS TO GET
NEXT TRANCHES OF IMF CREDIT

Chisinau-30.10.2002/16:13:50/(BASA-economic) Moldova has to fulfill
three more conditions in a move to get the next two tranches of the
IMF credit in the amount of 110.88 million SDR (147 million
dollars) within the Poverty Reduction and Economic Growth Facility.

Chisinau has to adopt the 2003 budget in line with IMF-agreed
requirements; to not take any decision on new restrictions for
exports and to approve a law on the preshipment inspection, Edgardo
Ruggiero, resident representative of the International Monetary
Fund in Chisinau, stated at the end of the visit to Chisinau of a
Fund's mission.

On October 22 and 30, the IMF delegation, headed by Marta
Castello-Branco, assistant director in the IMF's European
Department II, assessed the program agreed with Moldovan
authorities and reviewed the government's performance in September
under the Poverty Reduction and Economic Growth facility in order
to decide whether Moldova qualifies for the ordinary tranche from
this mechanism.

The IMF chief negotiator for Moldova specified that the Fund
recommends for 2003 an income tax for businesses of 22 percent and
not of 20 percent, as the government has planned. The fund also
does not agree with the reduction of the social fund tax from 29
down to 27 percent, he added.

"We have accepted the reduction in the amount it can be covered,"
Castello-Branco said.

The IMF mission agreed with the government over the revision of
forecasts for 2002 on the GDP increase - from 4.8 up to 6 percent
and reduction of inflation rate - from 8 down to 5 percent.

Marta Castello-Branco said he is satisfied with his discussions
with the government on the macro-economic program, which he
appreciated as "profitable." At the same time, he stressed that
discussions on the preshipment inspection have been rather tough.

If Chisinau fulfills the three conditions, the mission will present
a report to the IMF Council of Directors in mid-December, allowing
Moldova to get the next two tranches by the end of 2002.

"The government expressed its readiness to fulfill these
conditions," the IMF mission head said.

In December 2000, the IMF approved a 110.88-million-SDR credit (147
million dollars) within the Poverty Reduction and Economic Growth
Facility, of which Chisinau has already received three tranches in
the amount of 37 million dollars.
 

 FMI VA SUSTINE REPUBLICA MOLDOVA IN NEGOCIERILE CU CLUBUL DE LA PARIS PENTRU RESTRUCTURAREA DATORIILOR EXTERNE, AFIRMA VASILE TARLEV

Expertii Fondului Monetar International (FMI) au dat asigurari ca vor sustine Guvernul in dialogul cu Clubul creditorilor de la Paris in vederea restructurarii datoriei externe a Republicii Moldova, a comunicat miercuri premierul Vasile Tarlev intr-o conferinta de presa.

Tarlev a precizat ca in urma negocierilor de doua saptamani cu misiunea FMI privind politica bugetar-fiscala pentru anul 2003 si proiectul memorandumului aditional, Guvernul a fost de acord sa majoreze impozitul pe venit pentru persoanele juridice de la 20%, nivel fixat in proiectul legii bugetului pentru anul viitor, pana la 22%, asa cum cere FMI. De asemenea, Cabinetul de ministri a acceptat sa mentina nivelul contributiilor pentru asigurarile sociale la nivelul anului curent de 29% si nu de 27%.

Referitor la aplicarea inspectiei inainte de expeditie, Vasile Tarlev a spus ca partile au convenit ca Guvernul si Parlamentul sa initieze procedura de elaborare a unei legi speciale care ar reglementa acest domeniu si ca subiectul cu privire la activitatea companiei SGS Moldova, care presteaza servicii de inspectie inainte de expeditie, va fi reluat in urmatoarea runda de negocieri.

Primul ministru a mai informat ca transa urmatoare din creditului FMI in cadrul Mecanismului de Reducere a Saraciei si Crestere Economica ar putea sa fie disbursata la sfarsitul anului curent sau inceputul anului 2003.

In decembrie anul 2000, FMI a aprobat un credit in valoare de 110,88 mln DST (147 mln USD) in cadrul Mecanismului de Reducere a Saraciei si Crestere Economica, din care Chisinaul a primit deja trei transe in suma de circa 37 mln USD.