The Director of the European Department at the International Monetary Fund, Alfred Kammer, will discuss with Moldova's top officials the current economic situation in the republic, the Moldovan government announced on Wednesday.
CHISINAU (Pakistan Point News / Sputnik - 08th March, 2023) The Director of the European Department at the International Monetary Fund, Alfred Kammer, will discuss with Moldova's top officials the current economic situation in the republic, the Moldovan government announced on Wednesday.
Moldova is experiencing an energy crisis due to disrupted supplies and rising prices as the gas price increased almost seven times in 2022 and the electricity price fourfold. Last fall, the republic faced a record level of inflation, which affected many sectors of the economy.
"Kammer will visit Moldova from March 8-10. He is scheduled to meet with President Maia Sandu, Prime Minister Dorin Recean, ministers in charge of economic and energy issues in the government, as well as central bank chief Octavian Armasu. The parties will directly discuss the difficulties faced by the country, as well as express high appreciation for the partnership between the IMF and Moldova," the government said in a statement.
Kammer was appointed the head of the IMF European Department in August 2020. Previously, he served as the IMF Permanent Representative to Russia.
In late January, the European Commission decided to allocate 145 million euros ($152 million) of financial assistance to Moldova, however, this decision must be approved by the European Parliament first. This financial support will depend on the progress of the republic's program with the IMF and the fulfillment of certain tasks agreed between Moldova and the EU. These conditions will cover such key areas as strengthening economic governance in Moldova, fighting corruption, strengthening the rule of law and energy security. The funds are expected to come to Moldova in two tranches � the first will be sent in the third quarter and the second in the fourth quarter of 2023.
