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Moldova Cosies Up to Western Allies and IMF

2023/10/21
in Politics


As the EU and Council of Europe launch their ‘Support to the Justice Reform in the Republic of Moldova’ programme, Chisinau has secured $261 million from the International Monetary Fund (IMF) to support its economic recovery, address external challenges, and promote climate and energy initiatives.
The €2.7m EU project aims to create a more independent, professional, and transparent judiciary. It will run until November 2026, will benefit the Moldovan Ministry of Justice, Superior Council of Magistracy, Superior Council of Prosecutors, National Institute of Justice, and the Constitutional Court. The goal is to ensure a well-functioning justice system that protects human rights, upholds the rule of law, and fosters trust among citizens.
Meanwhile the IMF funding, subject to approval, will amount to $92 million and will help Moldova navigate challenges from the Ukraine war. The Resilience and Sustainability Facility (RSF), totalling about $169 million, will support climate-related issues and energy security. The IMF mission found that Moldova’s inflation has decelerated faster than expected, driven by the central bank’s monetary policy and a sharp decline in food and fuel prices.
Moldova’s economy is expected to grow by about 2% next year.

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