Press Release

EDGARDO RUGGIERO: IT WILL BE INTRICATE FOR THE REPUBLIC OF
MOLDOVA TO SURVIVE WITHOUT EXTERNAL FINANCING

The chief of the representative from the International Monetary Fund (IMF) in
the Republic of Moldova, Edgardo Ruggiero, declared on Wednesday, in the frames
of a press conference dedicated to the beginning of the visit for the
evaluation of a new IMF mission, that it will be intricate for the Republic of
Moldova to survive without external financing, AP FLUX informs.

The IMF evaluation mission is going to arrive at Chisinau on Wednesday and it
will be in the Republic of Moldova till June 18th of the current year. It will
analyze the program on which they agreed with the Moldovan Government and to
fulfill the requirements about giving the next part from IMF credit, in value of
over 147 million dollars. In function of the estimation's results, the IMF
leadership will take the decision about giving the next part of the credit.

According to Ruggiero, the IMF mission is going to ascertain the way how the
Government fulfills the preliminary actions about revising the fiscal frame on
an average term and the macroeconomic frame (PIB, the investments, the economic
increase, the balance of the payments). Also, will try to agree on some
structural measures in the frames of the IMF program.

Despite the fact that the macroeconomic situation from the Republic of Moldova
was estimated good, Ruggiero showed himself worried of the situation in
agriculture, that might have a negative collision on the economic increase and
the standard of living of the population. The IMF representative communicated
that till present exist only some conflicts about the approval by the
Legislature of some laws that are not covered financially, and this thing might
intricate the relations with IMF and other financial bodies and external donors.
Also, he said he got an agreement regarding the Law about the inspection before
the expedition of the goods. According to him, the compromised variant was
remitted to the Parliament and it is going to be approved in the near future.

Referring to the implementation of the administrative-territorial reform,
Ruggiero said that till present IMF did not get from the Government an accurate
estimation of its costs. He declared that for the Republic of Moldova, that is
a small country, those 10 territorial units existent till present were
sufficient.

The IMF representative declared that the present mission will address to the
IMF board to take a decision to unblock, not earlier then July, the financing
of the Republic of Moldova, and the decision will depend on the results of the
evaluation.

IMF blocked the financing of the Republic of Moldova after in July 2002 the
Government got the third part of this credit, in value of 12.3 million dollars.
The Monetary Fund ceased the financing on the reason that the Government did
not fulfill the conditions stipulated by the agreement, depriving the Republic
of Moldova from the fourth part of the credit, in value of 25 million dollars,
planned for December 2002. The last IMF mission, that visited the Republic of
Moldova in March of the current year, did not take any decision about the
resumption of the financing and the agreement of the Government on a new term
for the implementation of the stipulations from the memorandum, AP FLUX also
informs.

EDGARDO RUGGIERO: R. MOLDOVA NU VA PUTEA SUPRAVIETUI FARA FINANTARE EXTERNA

Seful reprezentantei Fondului Monetar International (FMI) in Republica Moldova, Edgardo Ruggiero, a declarat miercuri, in cadrul unei conferinte de presa consacrate inceperii vizitei de evaluare a unei noi misiuni a FMI, ca Republicii Moldova ii va fi foarte complicat sa supravetuasca fara finantarea externa.

Misiunea de evaluare a FMI uremaza sa soseasca la Chisinau miercuri si se va afla in Republica Moldova pana al 18 iunie curent. Aceasta va analiza programul convenit cu Guvernul moldovean si indeplinirea cerintelor privind acordarea urmatoarei transe din creditul FMI, in valoare de peste 147 milioane USD. In functie de rezultatele evaluari, conducerea FMI va lua decizia privind acordarea urmatoarei transe a creditului.

Cu toate ca a apreciat drept buna situatia macroeconomica din Republica Moldova, Ruggiero s-a aratat ingrijorat de situatia in agriculatura, care ar putea avea un impact negativ asupra cresterii economice si a nivelului de trai a populatiei. Reprezentantul FMI a comunicat ca pana in prezent exista unele divergente ce tin de adoptarea de catre Legislativ a unor legi care nu au acoperire financiara, iar acest lucru poate complica relatiile cu FMI si cu alte organisme financiare si donatori externi. Totodata, el a spus ca a fost obtinut un consens in privinta Legii cu privire la inspectia inainte de expeditie a marfurilor. Potrivit lui, varianta de compromis a fost remisa Parlamentului si urmeaza sa fie adoptata in viitorul apropiat.

Referindu-se la implementarea reformei administrativ-teritoriale, Ruggiero a spus ca pana in prezent FMI nu a obtinut de la Guvern o evaluare exacta a costurilor acesteia. El a declarat ca pentru Republica Moldova, care este o tara mica, cele 10 unitati teritoriale existente pana in prezent erau suficiente.

AP FLUX