Prime Minister Pavel Filip had a meeting with the experts of the IMF
OREANDA-NEWS. May 24, 2016. Prime Minister Pavel Filip today met a team of experts of the International Monetary Fund (IMF), led by Ivanna Vladkova-Hollar.
The Prime Minister thanked the IMF officials for the prompt answer and willingness to continue the dialogue on economic policies and advancement in discussing the reforms proposed by the government and the National Bank of Moldova, as important elements of a new programme with IMF.
“For us, the Agreement with IMF is a key-agreement, on which the relations with development partners and atmosphere inside the country depend,” the Prime Minister said. In this context, Pavel Filip reiterated the government’s determination and resolution to advance in implementing the reforms and to change Moldova’s image, reestablishing the confidence of development partners and citizens. Among the priority actions of the government in this respect, the prime minister pointed out the financial and banking reform, justice reform and implementation of the anti-corruption strategy, ensuring an attractive and competitive business environment.
Pavel Filip informed also about the steps taken by the government since the last visit by IMF, in order to advance in the three basic trends. At the first stage, the financial situation was stabilized, so that the government should be able to pay the pensions and wages. The goal was achieved, in the Prime Minister's opinion, also due to appointment of honest people to the customs and fiscal bodies.
Also, the Moldovan authorities reestablished the dialogue with the European partners by re-enforcing the Association Agreement and elaborating a roadmap, with concrete short-term commitments. To improve the business environment, a moratorium on state controls was set, 169 documents of the Customs Service were guillotined and about 100 permissive documents removed. The institutions with regulatory and control duties were assessed with the support of the International Financial Corporation, which will be at the basis of a comprehensive reform of these institutions.
Ivanna Vladkova-Hollar confirmed the determination for continuing the dialogue on the economic policies, pointing out that the current visit represented a first step to negotiating an agreement on a new programme with the financial institution. The official noted that the mission would analyze the latest developments in the financial and banking sector. The IMF representative highlighted the importance of strengthening the bank regulation framework and ensuring the operational independence of the bank regulation institutions. Among the major problems due to be settled, there are excluding interference of justice with supervising and regulating the banks, ensuring transparency of final shareholders, setting mechanisms for managing the risks by the commercial banks. It is important that we have a correct action strategy, in order to avoid repeating of such a situation.
On the next days, the IMF mission has scheduled meetings with the leadership of the National Bank of Moldova, National Financial Market Commission, Finance Ministry and managers of a string of commercial banks.