15:54 GMT +323 March 2018
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    New Program of Cooperation Between Moldova, IMF to Be Adopted in Fall

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    The International Monetary Fund (IMF) cooperation program with Moldova will be adopted in fall at an IMF Board of Directors session, Moldovan Prime Minister Pavel Filip said on Wednesday.

    CHISINAU (Sputnik) — According to the prime minister, the key thing that the authorities had managed to implement in the first half of 2016 was to stabilize the banking system, which had once become one of the reasons for a block on external financing to Moldova.

    "We have an agreement on the level of expert groups. Thus, at the IMF Board of Directors meeting in the autumn of this year the [cooperation] program will be approved. Of course, before that we need to implement all of our obligations," Filip said at a government meeting.

    Chisinau joined the IMF in 1992 and participated in a number of programs aimed at supporting Moldova's economic adjustment programs. The previous IMF-supported program expired in 2013, however the fund had not provided Moldova with the last tranche because of the country's high social expenditures and fiscal deficit.

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