OREANDA-NEWS. November 23, 2012. This was stated by head of the IMF Mission in Moldova Nikolay Gueorguiev and Premier of Moldova Vladimir Filat at the joint press conference. According to Nikolay Gueorguiev, the three months will be used by the government of Moldova to implement some measures stipulated but not realized. During its assessment the mission of IMF was said to have discussed the 6th review of the Program backed by IMF.

Due to technical reasons authorities of Moldova requested for several months to amend policies necessary to achieve goals of the Program. According to Nikolay Gueorguiev, in general the program is on track despite some delays. In particular, implementation of benchmarks of structural reforms is being delayed: the matter concerns amendments to provide full transparency and disclosure information about final holders of banks and the document on mid-term budgetary frameworks. Commitment of authorities of Moldova to implement fitting measures to meet all terms of the program inspires optimism, Nikolay Gueorguiev remarked.

The head of the IMF mission emphasized the Fund welcomes Moldova’s government’s commitment to settle recent initiatives leading to a decline in revenues, increase other incomes through consideration and revise of fiscal waste relieves, rates of the road tollage, to adjust fuel excise rate and to cut structural costs through gradual raise of wages and further rationalization of running expenses. Next time the IMF Mission is expected in Moldova at the beginning of 2013 to evaluate the progress and proceed with the talks.

Completion of the 6th review will enable Moldova to receive the last tranche at an amount of USD76 mln., meant to maintain monetary reserves. The Board of Directors of IMF is expected to assess the sixth review of the Program and adopt the resolution for allotting Moldova the last tranche till the end of April, 2013.