Prime Minister Dorin Recean meets with the IMF mission: “We aim to increase consumer and investor confidence in our economy”

Recently, Prime Minister Dorin Recean and the delegation from the International Monetary Fund (IMF) held discussions on recent economic developments, macroeconomic perspectives, and the progress of the reform agenda. The mission, led by Alina Iancu, is visiting Chișinău from October 1-11, according to the Communication Department of the Government.

These discussions are taking place as part of the sixth review of the program supported by the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF), as well as the second review of the program supported by the Resilience and Sustainability Facility (RSF).

Prime Minister Dorin Recean emphasized that the Government is currently pursuing two main objectives: economic recovery and ensuring peace and security. “We aim to increase consumer and investor confidence in our economy, which has suffered in the current regional context,” the Prime Minister said.

The interlocutors also addressed topics such as judicial reform and the fight against corruption, the energy sector situation, the integration of the Transnistrian region into the economic space of the Republic of Moldova, and the strengthening of the financial-banking sector, with a focus on the role and operational framework of the National Bank of Moldova.

“Judicial reform is the foundation of all other reforms, and it requires a systemic approach. It is essential that the system is composed of individuals with integrity, and that the institutions in this field are sustainable, independent, but at the same time, not isolated,” the Prime Minister highlighted.

The IMF mission noted that recent macroeconomic developments point to a favorable path for economic recovery. The experts appreciated the detailed information provided by the authorities and reaffirmed the full support of the international financial institution for the national economy and the continuation of reforms.

The program of the Moldovan authorities, supported by the IMF through the ECF and EFF financing mechanisms, with a duration of 40 months, was approved on December 21, 2021. In May 2022, the total credit volume was increased to approximately 805 million dollars, of which around 608 million dollars have already been disbursed.

Additionally, in December 2023, a new program was approved, supported by the RSF financing mechanism, with a total value of approximately 175 million dollars, of which around 44 million dollars have already been disbursed.