The Executive Board of the International Monetary Fund will meet on November 7, 2016, to discuss the request of the financing program for the reforms in Moldova, over a period of three years through the Extended Credit Facility and the Extended Financing Mechanism ( ECF/EFF) of the IMF. The financial arrangement provides the access to finance at a level of 75% of Moldova's quota to the IMF (about 182.7 million US dollars), it is announced in a NBM press release.

The National Bank of Moldova and the Government of Moldova have realized the prior actions of the Memorandum of Economic and Financial Policies (MEFP) of the agreement at staff level between the Moldovan authorities and IMF experts, concluded on July 26, 2016.

As a result, the Executive Board of the International Monetary Fund will meet on November 7, 2016, to discuss the request of the financing program for the reforms in Moldova, over a period of three years through the Extended Credit Facility and Mechanism extended Fund (ECF/EFF) IMF. The financial arrangement provides the access to finance at a level of 75% of Moldova's quota at the IMF (about 182.7 million US dollars).

This new program with the IMF aims, among other things, the rapid improvement of governance and supervision of the banking sector. In particular, the program seeks to assess and increasing transparency of the shareholder of the commercial banks in Moldova. Monetary policy will to be focused further on maintaining price stability in the context of a flexible exchange rate regime.

We remind you that the former Prime-Minister, Ion Sturza, wrote three days ago on Facebook that the IMF Executive Board members have not discussed the cooperation program with the Government of Moldova at the last meeting of October 19. He believes that funding from this international organization will not be offered this year.

Coincidence or not, but Sturza's announcement came after that, a day before, two US congressmen wrote to the IMF chairmen not to give money to Moldova until it does not ensure that they will not be received by those who stole the billion. A copy of the letter in question was published by Andrei Nastase on Facebook, after what, previously, the PPDA leader met with those two US officials.

Afterwards both the Speaker of the Parliament, the Ministry of Finance and permanent representative of IMF in Moldova, Armine Khachatryan, denied the information that on October 19, the IMF Executive Board have not discussed the cooperation program with the Government of Moldova, stating that the date of the meeting of the Board of Executive Directors which will consider the issue of the memorandum with Moldova will be announced after the implementation of all priority actions. The IMF representatives noted that there had been no delays in this regard.