{"id":235984,"date":"2005-07-04T14:58:00","date_gmt":"2005-07-04T14:58:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/07\/04\/uncertainty-about-resumption-of-negotiations-on-a-new-financing-program-3657-eng\/"},"modified":"2005-07-04T14:58:00","modified_gmt":"2005-07-04T14:58:00","slug":"uncertainty-about-resumption-of-negotiations-on-a-new-financing-program-3657-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/uncertainty-about-resumption-of-negotiations-on-a-new-financing-program-3657-eng\/","title":{"rendered":"Uncertainty about resumption of negotiations on a new financing program"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

Moldovan Government did not manage yet to convince the International Monetary Fund (IMF) to start negotiations on resuming the financing of Moldova. IMF chief negotiator for Moldova, Thomas Richardson could not specify even the approximate date of resuming the negotiations on a new IMF financing program and its duration. The head of the IMF mission, being on a documentation visit to Moldova in the period of 22 June – July 1, mentioned on Friday at a press conference that a new documentation visit of IMF to Moldova is needed, which will take place in September – October 2005. <\/p>\n

Thomas Richardson mentioned that IMF experts assessed the monetary and budgetary-fiscal policy for 2005-2006, the measures of implementing the structural reforms envisaged in the Economic Growth and Poverty Reduction Strategy Paper (EGPRSP), as well as the changes made by the Government since the last visit of IMF mission in Moldova, in October 2004. <\/p>\n

IMF official mentioned that there are progresses in some fields, but there are other things to be done. The experts showed themselves preoccupied with the increase in the inflation level at the beginning of the current year, appreciating the measures undertaken by the National Bank of Moldova with a view to stabilizing monetary receipts, “reining back” the level of inflation. <\/p>\n

According to Richardson, the Government’s initiative of reformation, of evaluation of the functions fulfilled by the governmental bodies, of reducing the personnel, which will lead to the saving of public means is very important, “but it is necessary to reorganize the whole governmental system, in order to prevent the possibilities of corruption,” also said the cited source. <\/p>\n

IMF representative welcomed the implementation of Guillotine Law, hoping that it will eliminate useless settlements. <\/p>\n

In another context, IMF chief negotiator underlined that privatization must not be an objective, this being useful only when the enterprises are led more efficiently than in the public sector. The important thing is that the enterprises that remained in the state property to be administrated professionally, and if they do not bring dividends in the budget, then “we must ask ourselves if they still remain in the state property,” mentioned Thomas Richardson. <\/p>\n

IMF official also underlined that it is necessary to oversee the measures referring to the freezing of debts or offering of fiscal holidays. The improvement of business climate reducing the income tax, is an optimal measure, but the incomes as a result of this action must not be lost, said the source. <\/p>\n

At the end, Thomas Richardson stated that the resumption of the negotiations on a new financing program for Moldova depend on the accomplishments of the Government ill the next visit of the IMF, this autumn. <\/p>\n

It should be mentioned that within previous program of 147mln USD, IMF offered Moldova loans of about 37mln USD. \/\/REPORTER.MD<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>Moldovan Government did not manage yet to convince the International Monetary Fund (IMF) to start negotiations on resuming the financing of Moldova. IMF chief negotiator for Moldova, Thomas Richardson could not specify even the approximate date of resuming the negotiations on a new IMF financing program and its duration. The head of the IMF mission, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-235984","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

Moldovan Government did not manage yet to convince the International Monetary Fund (IMF) to start negotiations on resuming the financing of Moldova. IMF chief negotiator for Moldova, Thomas Richardson could not specify even the approximate date of resuming the negotiations on a new IMF financing program and its duration. The head of the IMF mission, being on a documentation visit to Moldova in the period of 22 June – July 1, mentioned on Friday at a press conference that a new documentation visit of IMF to Moldova is needed, which will take place in September – October 2005. <\/p>\n

Thomas Richardson mentioned that IMF experts assessed the monetary and budgetary-fiscal policy for 2005-2006, the measures of implementing the structural reforms envisaged in the Economic Growth and Poverty Reduction Strategy Paper (EGPRSP), as well as the changes made by the Government since the last visit of IMF mission in Moldova, in October 2004. <\/p>\n

IMF official mentioned that there are progresses in some fields, but there are other things to be done. The experts showed themselves preoccupied with the increase in the inflation level at the beginning of the current year, appreciating the measures undertaken by the National Bank of Moldova with a view to stabilizing monetary receipts, “reining back” the level of inflation. <\/p>\n

According to Richardson, the Government’s initiative of reformation, of evaluation of the functions fulfilled by the governmental bodies, of reducing the personnel, which will lead to the saving of public means is very important, “but it is necessary to reorganize the whole governmental system, in order to prevent the possibilities of corruption,” also said the cited source. <\/p>\n

IMF representative welcomed the implementation of Guillotine Law, hoping that it will eliminate useless settlements. <\/p>\n

In another context, IMF chief negotiator underlined that privatization must not be an objective, this being useful only when the enterprises are led more efficiently than in the public sector. The important thing is that the enterprises that remained in the state property to be administrated professionally, and if they do not bring dividends in the budget, then “we must ask ourselves if they still remain in the state property,” mentioned Thomas Richardson. <\/p>\n

IMF official also underlined that it is necessary to oversee the measures referring to the freezing of debts or offering of fiscal holidays. The improvement of business climate reducing the income tax, is an optimal measure, but the incomes as a result of this action must not be lost, said the source. <\/p>\n

At the end, Thomas Richardson stated that the resumption of the negotiations on a new financing program for Moldova depend on the accomplishments of the Government ill the next visit of the IMF, this autumn. <\/p>\n

It should be mentioned that within previous program of 147mln USD, IMF offered Moldova loans of about 37mln USD. \/\/REPORTER.MD<\/p>\n

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