Recean: IMF backing is vital for Moldova’s economic recovery

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The current phase of the program with the International Monetary Fund (IMF) and macroeconomic changes were discussed at a meeting of Prime Minister Dorin Recean with the IMF team led by Ruben Atoyan. In the next two weeks, experts will perform the third evaluation of the program supported by the Extended Credit Facility (ECF) and the Extended Funding Facility (EFF), reports, citing the government’s press and protocol department. The chief executive commended the IMF support offered to Moldova, noting that this is vital for economic recovery in the context of the regional situation, but also for achieving the objectives of the current government. Dorin Recean said that among the main priorities are rebooting the economy, improving the investment climate, supporting small and medium enterprises and developing instruments that are better tailored to the needs of citizens. For his part, Ruben Atoyan stressed that the government’s priorities are focused on the goals of the IMF program, aimed at implementing managerial and institutional reforms. At the same time, steps in fiscal policy, the fight against corruption and the rule of law, as well as financial oversight, will continue. The parties addressed the measures needed to mitigate the shocks caused by the energy crisis, and stressed the importance of stronger institutional capacity to achieve the program’s objectives and concrete results. The IMF-backed program of the Moldovan authorities will last for 40 months and was approved on December 21, 2021.