Moldova & IMF IMF Activities Publications Press Releases


Chisinau-03.03.2003/10:31:20/(BASA-economic) An International
Monetary Fund mission is expected on March 13 to Chisinau to study
the programme agreed with the Chisinau government and fulfillment
of obligations needed for the disbursement of the ordinary tranche
of the credit within the Poverty Reduction and Growth Facility,
Finance Minister Zinaida Grecianyi has announced.

Marta Castello-Branco, assistant director of the IMF's European
Department II and chief negotiator of the IMF-Moldova relations,
will lead the mission.

The conclusions of the new mission will be crucial in deliberations
in the Fund's Managing Board whether to disburse the 4th tranche of
the 110.88-million SDR credit (147 million dollars), approved in
December 2000. Chisinau was expecting to receive 25 million dollars
by mid-December 2002, but due to its failure to fulfill some
conditions, the fund blocked the financing of Moldova.

Chisinau received the 3rd tranche in the amount of 9.24 million SDR
(12.3 million dollars) in July 2002.

The resident representative of the International Monetary Fund in
Moldova, Edgardo Ruggiero, stated at a recent meeting with Prime
Minister Vasile Tarlev that further assistance from the IMF depends
on when the Chisinau parliament adopts the law on preshipment
inspection and what this document contains.

Premier Tarlev said during the meeting with Ruggiero that the
Moldovan government "is aware of the importance of the new IMF
mission" and "will meet all the obligations toward the
international lender until the arrival of the mission."