Andrian Gavrilice
According to Finance Minister Andrian Gavrilic, regardless of the receipt or non-receipt of the last tranche of the previous program with the IMF, the discussion of a new format of cooperation was inevitable.
“Talking about a new Memorandum would have been necessary in any case. There was a Mission not in connection with the Memorandum, but we started the conversation and the other day we should send a letter (to the IMF) – to propose a Memorandum, but not necessarily with the purpose of borrowing,” the minister said on TV8.
He noted that the letter will express “openness and desire to have a certain type of Memorandum – to start discussing reforms that the IMF considers necessary and in which the government itself is interested.”
“It is also important to take into account their vision: there are world-class experts working there who know the best international practices,” Gavrilica said, expressing the opinion that the Memorandum could be signed in 2026.
According to him, the absence of the last tranche of the previous Memorandum did not affect the financial stability in Moldova, as “there are enough funds for investments, and it would be wrong to borrow money for current expenses”.
Gavrilica also recalled three scenarios for the development of relations with the IMF: borrowing funds with simultaneous reforms; borrowing funds only for emergencies and crises; and coordinating reforms without attracting funds. The third option, according to him, is the most suitable for Moldova now – the existence of such an instrument means that the government is financially responsible in its plans and also helps to discuss projects with other partners.
“We will see how internal processes will develop. We will still have to increase or adjust certain revenues, because the deficit should be closed not by debts, but by income growth, at least in the medium term. And this should be based on economic growth.
At the same time, the minister said that in a certain scenario there may still be a need for IMF funds, and then, with the existing Memorandum, “everything can be done faster.
