{"id":448600,"date":"2020-07-30T17:54:38","date_gmt":"2020-07-30T17:54:38","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=448600"},"modified":"2020-07-30T18:38:10","modified_gmt":"2020-07-30T18:38:10","slug":"the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/","title":{"rendered":"The IMF staff and Moldovan authorities agreed on a new economic program"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

On July 24-27,\u00a0an International Monetary Fund (IMF)<\/strong> mission, led by Ruben Atoyan<\/strong>, held remote discussions with the Moldovan authorities. As a result, a staff-level agreement was reached\u00a0on an economic reform program\u00a0to be supported by three-year Extended Credit Facility and Extended Fund Facility (ECF\/EFF) arrangements, according to a press release<\/a> of the\u00a0IMF Resident Representative Office in Moldova. The newly signed agreement would allow the Republic of Moldova to access\u00a0about $558 million<\/strong> of financial assistance.<\/p>\n

The staff level agreement is subject to approval by IMF Management and the Executive Board. Moreover, the financial assistance is subject to the authorities\u2019 implementation of a number of prior actions in areas of the central bank independence, financial sector supervision and fiscal transparency<\/span>, being based on\u00a0progress made under the previous program.<\/p>\n

\"\"

Source: gov.md<\/p><\/div>\n

\u201cThe new ECF\/EFF arrangements will help maintain macroeconomic stability, provide an anchor for authorities\u2019 policies to support the post-pandemic recovery, and catalyse external financing from other donors. Building on progress made under the previous program, the new arrangement will also strive to advance ambitious institutional reforms aimed at tackling widespread vulnerabilities in areas of fiscal governance, non-bank financial sector oversight, market regulation, anti-corruption, and rule of law,”<\/em> stated\u00a0Mr. Atoyan.<\/p>\n

The government assessment plan, using relevant criteria and indicators, will provide a specific and concrete diagnosis of the level of governance and anti-corruption in the Republic of Moldova.<\/span> Based on the obtained results, the IMF team will make reasonable recommendations, so that corruption could be reduced and economic performance could be improved.<\/p>\n

The IMF representatives highlighted, at the same time, that the governmental reform of the National Bank of Moldova (NBM) supported by the Fund was an important achievement for Moldova. “The successful clean-up of the banking sector in the aftermath of the major bank fraud is a credit to the supervisory work of the NBM. Unequivocal commitment to the non-reversibility of the banking sector reforms is critical for the financial sector stability. An independent central bank helps macroeconomic stability, supports investor confidence, and protects the financial system\u2014all crucial preconditions for inclusive and sustainable growth. It is in the interest of Moldova to preserve the independence of NBM and it is also a critical requirement under the new IMF-supported program,”<\/em> claimed\u00a0Ruben Atoyan after the consultations with Moldova ended.<\/p>\n

Photo: Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>On July 24-27,\u00a0an International Monetary Fund (IMF) mission, led by Ruben Atoyan, held remote discussions with the Moldovan authorities. As a result, a staff-level agreement was reached\u00a0on an economic reform program\u00a0to be supported by three-year Extended Credit Facility and Extended Fund Facility (ECF\/EFF) arrangements, according to a press release of the\u00a0IMF Resident Representative Office in […]<\/p>\n","protected":false},"author":31,"featured_media":448601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,4],"tags":[642,77,817,816,390,35,27,548,818,448],"class_list":["post-448600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-society","tag-covid-19","tag-economy","tag-financial-assistance","tag-funding","tag-imf","tag-important","tag-moldova","tag-programme","tag-stability","tag-support"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

On July 24-27,\u00a0an International Monetary Fund (IMF)<\/strong> mission, led by Ruben Atoyan<\/strong>, held remote discussions with the Moldovan authorities. As a result, a staff-level agreement was reached\u00a0on an economic reform program\u00a0to be supported by three-year Extended Credit Facility and Extended Fund Facility (ECF\/EFF) arrangements, according to a press release<\/a> of the\u00a0IMF Resident Representative Office in Moldova. The newly signed agreement would allow the Republic of Moldova to access\u00a0about $558 million<\/strong> of financial assistance.<\/p>\n

The staff level agreement is subject to approval by IMF Management and the Executive Board. Moreover, the financial assistance is subject to the authorities\u2019 implementation of a number of prior actions in areas of the central bank independence, financial sector supervision and fiscal transparency<\/span>, being based on\u00a0progress made under the previous program.<\/p>\n

\"\"

Source: gov.md<\/p><\/div>\n

\u201cThe new ECF\/EFF arrangements will help maintain macroeconomic stability, provide an anchor for authorities\u2019 policies to support the post-pandemic recovery, and catalyse external financing from other donors. Building on progress made under the previous program, the new arrangement will also strive to advance ambitious institutional reforms aimed at tackling widespread vulnerabilities in areas of fiscal governance, non-bank financial sector oversight, market regulation, anti-corruption, and rule of law,”<\/em> stated\u00a0Mr. Atoyan.<\/p>\n

The government assessment plan, using relevant criteria and indicators, will provide a specific and concrete diagnosis of the level of governance and anti-corruption in the Republic of Moldova.<\/span> Based on the obtained results, the IMF team will make reasonable recommendations, so that corruption could be reduced and economic performance could be improved.<\/p>\n

The IMF representatives highlighted, at the same time, that the governmental reform of the National Bank of Moldova (NBM) supported by the Fund was an important achievement for Moldova. “The successful clean-up of the banking sector in the aftermath of the major bank fraud is a credit to the supervisory work of the NBM. Unequivocal commitment to the non-reversibility of the banking sector reforms is critical for the financial sector stability. An independent central bank helps macroeconomic stability, supports investor confidence, and protects the financial system\u2014all crucial preconditions for inclusive and sustainable growth. It is in the interest of Moldova to preserve the independence of NBM and it is also a critical requirement under the new IMF-supported program,”<\/em> claimed\u00a0Ruben Atoyan after the consultations with Moldova ended.<\/p>\n

Photo: Reuters<\/p>\n

<\/div>
<\/div>
<\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/div>
<\/div><\/div>
<\/div>","yoast_head":"\nThe IMF staff and Moldovan authorities agreed on a new economic program - 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\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/\"},\"author\":{\"name\":\"Maria Dulgher\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\"},\"headline\":\"The IMF staff and Moldovan authorities agreed on a new economic program\",\"datePublished\":\"2020-07-30T17:54:38+00:00\",\"dateModified\":\"2020-07-30T18:38:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/\"},\"wordCount\":406,\"image\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/07\\\/imf.jpg\",\"keywords\":[\"Covid-19\",\"Economy\",\"financial assistance\",\"Funding\",\"imf\",\"Important\",\"Moldova\",\"Programme\",\"stability\",\"Support\"],\"articleSection\":[\"Economy\",\"Society\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/\",\"name\":\"The IMF staff and Moldovan authorities agreed on a new economic program - Moldova.org\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/07\\\/imf.jpg\",\"datePublished\":\"2020-07-30T17:54:38+00:00\",\"dateModified\":\"2020-07-30T18:38:10+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/07\\\/imf.jpg\",\"contentUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/07\\\/imf.jpg\",\"width\":960,\"height\":540},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The IMF staff and Moldovan authorities agreed on a new economic program\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/\",\"name\":\"Moldova.org\",\"description\":\"The first news website of Moldova\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\",\"name\":\"Maria Dulgher\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"caption\":\"Maria Dulgher\"},\"description\":\"Jurnalist\u0103 that speaks English very well. De aia Maria are grij\u0103 c\u0103 prietenii no\u0219tri str\u0103ini s\u0103 nu piard\u0103 nicio informa\u021bie valoroas\u0103 despre actualitatea din Moldova.\",\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/mariuta.dulgher\",\"https:\\\/\\\/www.instagram.com\\\/marie.dulgher\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/maria-dulgher-4a9a2bb2\\\/\"],\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/author\\\/mariadulgher\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The IMF staff and Moldovan authorities agreed on a new economic program - Moldova.org","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/","twitter_misc":{"Written by":"Maria Dulgher","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#article","isPartOf":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/"},"author":{"name":"Maria Dulgher","@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf"},"headline":"The IMF staff and Moldovan authorities agreed on a new economic program","datePublished":"2020-07-30T17:54:38+00:00","dateModified":"2020-07-30T18:38:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/"},"wordCount":406,"image":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#primaryimage"},"thumbnailUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/07\/imf.jpg","keywords":["Covid-19","Economy","financial assistance","Funding","imf","Important","Moldova","Programme","stability","Support"],"articleSection":["Economy","Society"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/","url":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/","name":"The IMF staff and Moldovan authorities agreed on a new economic program - Moldova.org","isPartOf":{"@id":"https:\/\/www.moldova.org\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#primaryimage"},"image":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#primaryimage"},"thumbnailUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/07\/imf.jpg","datePublished":"2020-07-30T17:54:38+00:00","dateModified":"2020-07-30T18:38:10+00:00","author":{"@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf"},"breadcrumb":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#primaryimage","url":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/07\/imf.jpg","contentUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/07\/imf.jpg","width":960,"height":540},{"@type":"BreadcrumbList","@id":"https:\/\/www.moldova.org\/en\/the-imf-staff-and-moldovan-authorities-agreed-on-a-new-economic-program\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.moldova.org\/en\/"},{"@type":"ListItem","position":2,"name":"The IMF staff and Moldovan authorities agreed on a new economic program"}]},{"@type":"WebSite","@id":"https:\/\/www.moldova.org\/en\/#website","url":"https:\/\/www.moldova.org\/en\/","name":"Moldova.org","description":"The first news website of Moldova","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.moldova.org\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf","name":"Maria Dulgher","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","caption":"Maria Dulgher"},"description":"Jurnalist\u0103 that speaks English very well. De aia Maria are grij\u0103 c\u0103 prietenii no\u0219tri str\u0103ini s\u0103 nu piard\u0103 nicio informa\u021bie valoroas\u0103 despre actualitatea din Moldova.","sameAs":["https:\/\/www.facebook.com\/mariuta.dulgher","https:\/\/www.instagram.com\/marie.dulgher\/","https:\/\/www.linkedin.com\/in\/maria-dulgher-4a9a2bb2\/"],"url":"https:\/\/www.moldova.org\/en\/author\/mariadulgher\/"}]}},"_links":{"self":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts\/448600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/comments?post=448600"}],"version-history":[{"count":0,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts\/448600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/media\/448601"}],"wp:attachment":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/media?parent=448600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/categories?post=448600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/tags?post=448600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}