{"id":447832,"date":"2019-12-26T11:18:42","date_gmt":"2019-12-26T11:18:42","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=447832"},"modified":"2020-01-18T13:11:52","modified_gmt":"2020-01-18T13:11:52","slug":"ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost\/","title":{"rendered":"Ion Chicu: &#8220;Our goal is to build lasting relationships with the IMF, but not at any cost.&#8221;"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>Prime Minister <strong>Ion Chicu<\/strong> declared the<em><strong><span style=\"color: #003366\"> 2020 the year of investments<\/span><\/strong><\/em> in a video\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=s4qKaA2Z1SA\">interview<\/a> for ipn.md. He said that a large part of these investments will be financed from external sources, particularly hoping for\u00a0receiving the <strong>instalments of macro-financial assistance from the EU.<\/strong><\/p>\n<p>Still, the official said a pause in the relationship with the <strong>International Monetary Fund<\/strong> (IMF) could be taken\u00a0if the given organisation opposes investments in infrastructure or insists on the rise in gas tariffs. <em>&#8220;Our goal is to build lasting relationships with the IMF, but not at any cost,&#8221;<\/em> stated Premier Ion Chicu.<\/p>\n<p>The head of the Moldovan Government noted that a new program could be signed with IMF, after the current program expires next March. However, according to him, the IMF is a partner that imposes conditions that can restrict the Government\u2019s development plans and investments in infrastructure. <em>&#8220;The IMF is a partner of the Republic of Moldova and I am for having a program supported by this institution. Beyond the financial aspect, there is the one of reforms. I want to finalise the existing program by March and then have another,&#8221;<\/em> said Ion Chicu.<\/p>\n<p>The prime minister said two risks can be experienced in the cooperation with the IMF after next March \u2013<span style=\"color: #993300\"> the opposition to making investments in infrastructure and the demand to raise gas tariffs for end consumers<\/span>. Chicu claimed that the previous government took these responsibilities, while he reached an agreement with the Russian authorities to lower the price of natural gas supplied to Moldova. If the IMF insists on increasing tariffs, a break in the cooperation with this institution would be taken.<\/p>\n<p>The biggest share of the infrastructure investments planned for the next year by the Moldovan government are targeting the road infrastructure. Ion Chicu mentioned that next year, 6 billion lei are expected to be invested in this area. As\u00a0the prime minister stated, up to 7.4 billion lei from the budget deficit are on the investment component, which does not affect the budget sustainability.\u00a0<em>&#8220;It&#8217;s not about already spent money, which we can&#8217;t cover. It is important to cover the budget deficit on the basic component, which is smaller than last year,&#8221;<\/em> the prime minister noted.<\/p>\n<p>More about the 2020 approved budget&#8217;s deficit <a href=\"https:\/\/www.moldova.org\/en\/the-state-budget-of-moldova-for-the-next-year-includes-a-deficit-of-7-billion-lei-why-this-could-be-a-problem\/\">here<\/a>.<\/p>\n<p>In October 2019, a\u00a0staff team of the IMF, led by <strong>Ruben Atoyan<\/strong>, visited Chi\u015fin\u0103u. Then, the representatives of the IMF claimed that the organisation is\u00a0ready to continue to support the Republic of Moldova only if the Government will make commitments to carry out the begun reforms, especially those in the<span style=\"color: #993300\"> financial and fiscal sector and the investigation of bank fraud<\/span>.<\/p>\n<div>\n<div id=\"ftn1\">\n<p><strong>The three-year IMF-supported program<\/strong> under the Extended Fund Facility and the Extended Credit Facility has a total amount of about <strong>$ 178.7 million<\/strong>, being approved on November 7th, 2016. It aims to support Moldova\u2019s economic and financial reform program.<\/p>\n<\/div>\n<\/div>\n<p>According to the official page of the Government, an IMF delegation will come on a working visit to the Republic of Moldova between January and February 2020.<\/p>\n<p>Photo: gov.md<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Prime Minister Ion Chicu declared the 2020 the year of investments in a video\u00a0interview for ipn.md. He said that a large part of these investments will be financed from external sources, particularly hoping for\u00a0receiving the instalments of macro-financial assistance from the EU. Still, the official said a pause in the relationship with the International Monetary [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":447835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[390,35,76,27,75,117],"class_list":["post-447832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-imf","tag-important","tag-investments","tag-moldova","tag-politics","tag-prime-minister"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>Prime Minister <strong>Ion Chicu<\/strong> declared the<em><strong><span style=\"color: #003366\"> 2020 the year of investments<\/span><\/strong><\/em> in a video\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=s4qKaA2Z1SA\">interview<\/a> for ipn.md. He said that a large part of these investments will be financed from external sources, particularly hoping for\u00a0receiving the <strong>instalments of macro-financial assistance from the EU.<\/strong><\/p>\n<p>Still, the official said a pause in the relationship with the <strong>International Monetary Fund<\/strong> (IMF) could be taken\u00a0if the given organisation opposes investments in infrastructure or insists on the rise in gas tariffs. <em>&#8220;Our goal is to build lasting relationships with the IMF, but not at any cost,&#8221;<\/em> stated Premier Ion Chicu.<\/p>\n<p>The head of the Moldovan Government noted that a new program could be signed with IMF, after the current program expires next March. However, according to him, the IMF is a partner that imposes conditions that can restrict the Government\u2019s development plans and investments in infrastructure. <em>&#8220;The IMF is a partner of the Republic of Moldova and I am for having a program supported by this institution. Beyond the financial aspect, there is the one of reforms. I want to finalise the existing program by March and then have another,&#8221;<\/em> said Ion Chicu.<\/p>\n<p>The prime minister said two risks can be experienced in the cooperation with the IMF after next March \u2013<span style=\"color: #993300\"> the opposition to making investments in infrastructure and the demand to raise gas tariffs for end consumers<\/span>. Chicu claimed that the previous government took these responsibilities, while he reached an agreement with the Russian authorities to lower the price of natural gas supplied to Moldova. If the IMF insists on increasing tariffs, a break in the cooperation with this institution would be taken.<\/p>\n<p>The biggest share of the infrastructure investments planned for the next year by the Moldovan government are targeting the road infrastructure. Ion Chicu mentioned that next year, 6 billion lei are expected to be invested in this area. As\u00a0the prime minister stated, up to 7.4 billion lei from the budget deficit are on the investment component, which does not affect the budget sustainability.\u00a0<em>&#8220;It&#8217;s not about already spent money, which we can&#8217;t cover. It is important to cover the budget deficit on the basic component, which is smaller than last year,&#8221;<\/em> the prime minister noted.<\/p>\n<p>More about the 2020 approved budget&#8217;s deficit <a href=\"https:\/\/www.moldova.org\/en\/the-state-budget-of-moldova-for-the-next-year-includes-a-deficit-of-7-billion-lei-why-this-could-be-a-problem\/\">here<\/a>.<\/p>\n<p>In October 2019, a\u00a0staff team of the IMF, led by <strong>Ruben Atoyan<\/strong>, visited Chi\u015fin\u0103u. Then, the representatives of the IMF claimed that the organisation is\u00a0ready to continue to support the Republic of Moldova only if the Government will make commitments to carry out the begun reforms, especially those in the<span style=\"color: #993300\"> financial and fiscal sector and the investigation of bank fraud<\/span>.<\/p>\n<div>\n<div id=\"ftn1\">\n<p><strong>The three-year IMF-supported program<\/strong> under the Extended Fund Facility and the Extended Credit Facility has a total amount of about <strong>$ 178.7 million<\/strong>, being approved on November 7th, 2016. It aims to support Moldova\u2019s economic and financial reform program.<\/p>\n<\/div>\n<\/div>\n<p>According to the official page of the Government, an IMF delegation will come on a working visit to the Republic of Moldova between January and February 2020.<\/p>\n<p>Photo: gov.md<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost\/' data-heateor-sss-no-counts=\"1\"><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.moldova.org%2Fen%2Fion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost%2F\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\" 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lasting relationships with the IMF, but not at any cost.&quot; - Moldova.org<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moldova.org\/en\/ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maria Dulgher\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/ion-chicu-our-goal-is-to-build-lasting-relationships-with-the-imf-but-not-at-any-cost\\\/\"},\"author\":{\"name\":\"Maria Dulgher\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\"},\"headline\":\"Ion Chicu: &#8220;Our goal is to build lasting relationships with the IMF, but not at any 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