IMF executive director visits Moldova

International Monetary Fund Executive Director Jeroen JM Kremers arrived in Chisinau on Tuesday for a six-day visit. This is the first visit from such a senior IMF official to Chisinau since the Fund suspended financing in July 2003, the country's economy ministry. An IMF mission is expected to visit on October 28. Kremers will be looking at the government's current economic policy and the progress of the PRGF program, which the Fund, government and National Bank of Moldova signed in December 2000. The agreement expires in December 2003. The Fund had planned to allocate $142 million for 30 years at 0.75% over three years. However, Moldova actually received just over $36 million because the government did not meet all the Fund's terms.