IMF plans to provide special financing of $ 236 million to Moldova
CHISINAU (Moldova), July 30 (SeeNews) – The International Monetary Fund (IMF) plans to grant special financing of 236 million dollars (198 million euros) to Moldova, announced Friday the president of the country, Maia Sandu.
The IMF’s board will decide by the end of August whether or not to grant the special financing to Moldova, Sandu said in a social media post following a discussion with the director. General of the IMF, Kristalina Georgieva.
“We discussed the need to immediately remove all obstacles that led to the blocking of a new IMF program for the Republic of Moldova. Ms. Kristalina Georgieva assured us of the availability of the Fund to continue working with the Republic of Moldova, âSandu said.
In December, the IMF’s executive board announced that it was postponing approval of the financial agreement with Moldova reached at the staff level in July 2020. Moldova was to receive $ 558 million for the implementation of ‘an economic reform program as part of the agreement.
The IMF decision came after the Moldovan parliament repealed the law under which the government repays loans granted by Moldova’s central bank to the three banks involved in a billion dollar fraud scheme in 2014.
The IMF said at the time that the repeal cancels all efforts for the recovery of the financial system of Moldova.
($ = 0.854 euro)