Moldova’s Prime Minister Natalia Gavrita stated that Moldova has reached a preliminary agreement with the International Monetary Fund (IMF) on a 40-month financing plan of US$564 million (EUR 484 million).

Gavrilita said in a joint press conference broadcast live on the government's social media page with Rodgers Chawani, the representative of Moldova of the International Monetary Fund, that Moldova hopes to obtain the first $81 million loan under the new funding plan before the end of the year. The IMF Executive Board is expected to approve the agreement in December.

The Prime Minister of Moldova said: "The plan approved by the International Monetary Fund is a catalyst for new financing from other development partners, bringing more confidence to investors and giving the government more freedom in formulating social, economic support and infrastructure plans. "The IMF will help fight corruption and strengthen the rule of law. In the short term, Moldova’s budget and fiscal policy will focus on mitigating the impact of the Covid-19 pandemic and the current energy sector crisis, while in the medium term, the government’s efforts will focus on plans to ensure infrastructure investment and improve the business environment, education and health services. . Keywords: foreign news, energy

In December, the Board of Directors of the International Monetary Fund announced the postponement of the staff-level financial agreement reached with Moldova in July 2020. Moldova will receive US$558 million to implement economic reform plans under the agreement. The International Monetary Fund’s decision was made after the Moldovan Parliament repealed the government’s law to repay the loans provided by the Central Bank of Moldova to three local banks that participated in the $1 billion fraud scheme in 2014. However, Moldova’s new parliament partially abolished the law with the European majority in Europe, which was elected in July. Moldova’s previous US$572 million loan agreement with the International Monetary Fund expires in March 2020.Editor/Baohongying