IMF REPRESENTATIVE TO MOLDOVA SAYS CHISINAU LOST 2003 CHANCE
Published:
1 August 2003 y., Friday
The International Monetary Fund's (IMF) permanent representative to Moldova, Edgardo Ruggiero, said on 30 July that the IMF's board of governors at its meeting on 10 September will not discuss resuming lending to Moldova, meaning Chisinau has lost its chance of seeing IMF lending resumed this year, Infotag reported. Ruggiero said Moldova failed to meet the 21 July deadline for fulfilling conditions the IMF set to resume payment of a $147 million loan inked in December 2002.
The loan, which was frozen earlier this year, expires in December. The approval of a new loan, he said, would have to be negotiated. Ruggiero also said Moldova will not be able to apply this year to the Paris Club for a restructuring of its international debt because the application will not be considered without IMF consent.
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