“After spring 2025, we had no more Fund evaluation missions. So there were also no disbursements. In the same period we had sources of funding – we did not lose grants, we lost loans for which we had alternatives. We are talking about the means of financing from the growth plan with the European Union, today we discussed also a loan from the French side on not worse conditions. But also from our own sources – to have all this amount to finish the year with large balances and to pay interest on sources that we don’t really need right now. In fact, the cost of servicing the debt is decreasing, which is a good indicator,” the finance minister said.
According to Havrilice, the feasibility of the new program with the IMF will be discussed during the upcoming mission of the Fund:
“We have already had a very good discussion together with Mr. Prime Minister and representatives of the Fund. A mission is expected to arrive in December, within the framework of which we will discuss and see to what extent it is expedient to launch a new program and what kind of program. We will have to discuss very clearly and in detail what are the conditions compared to other possible alternatives and what are the mandatory requirements. Of course, we will do our best to make a decision that is most suitable for the interests of the state budget and, accordingly, for the citizens.
As a reminder, the International Monetary Fund has become a new mainstream in Moldova this week. The Fund blocked the last two tranches totaling 2.9 billion lei ($170 million) under a cooperation program with Moldova that ended in October. They were intended for budget support.
As a consequence, the government presented amended parameters of the state budget for 2025. They envisage a decrease in budget revenues by 135.7 million lei, an increase in budget expenditures by 169 million lei and an increase in the budget balance (deficit) by 304.7 million lei.
As a result, the state budget revenues will amount to 75.79 billion lei, the expenditures – 94.78 billion lei, and the balance (deficit) – about 18 billion lei. The amendments are being discussed in parliament.
