11:03 GMT +313 December 2019
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    This may 15, 2011 file photo shows the International Monetary Fund (IMF) headquarters building in Washington, DC

    Moldova, IMF May Sign Memorandum on Cooperation Soon

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    Moldovan Prime Minister Valery Strelets said that in order for the memorandum on cooperation with the International Monetary Fund (IMF) to be signed, Chisinau must appoint a new head for Moldova’s National Bank.

    CHISINAU (Sputnik) – Moldova may sign a memorandum on cooperation with the International Monetary Fund (IMF) at an unannounced but soon-to-be-determined time, Moldovan Prime Minister Valery Strelets said Monday.

    According to Strelets, after a recent visit to the United States, the Moldovan delegation met with the representatives of the IMF currently negotiating with Chisinau.

    "We discussed a package of priorities that we must address in order to sign this document," Strelets told journalists.

    The prime minister noted that in order for the memorandum to be signed, Chisinau must appoint a new head for Moldova’s National Bank. The National Bank’s current president Dorin Dragutanu announced his resignation September 21, but will remain until a new bank head is appointed.

    An IMF assessment mission, currently deployed to Moldova, leads "constructive talks" with Chisinau, according to Strelets.

    The IMF mission will work in Moldova until October 6. IMF experts are collecting economic and financial data to discuss the current economic situation and further cooperation with the country’s authorities.

    A loss of $1 billion, or the equivalent of 15 percent of the country's total gross domestic product, in a bank fraud last year negatively impacted the country's banking system and depreciated the national currency, the leu.


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