PM Sandu to ask Romanian Government a loan to pay wages in autumn

PM Maia Sandu will ask for a loan from the Romanian Government to pay salaries in this autumn, Finance Minister Natalia Gavriliţa declared in a press club without specifying the amount of loan and when they will sign the contract. 

"In the first discussions with the World Bank, we are told that the reform program will be focused on sustainability of salary law and pension system in the wage law. The long-term sustainability requires very complicated discussion and we probably don't manage until the end of this year. Because of this, we addressed the Romanian Government to offer us a loan". 

PM Maia Sandu also talked about this loan after a meeting with Străşeni locals. According to the official, this measure is necessary to manage the payment in this autumn. 

It remains unclear the amount of loan. 

"We're going to specify all details including the total amount but we hope that the first tranche will reach by the end of this year. It's a decision to be made at parliament level so we're waiting until the Romanian Parliament returns from vacation". 

The International Monetary Fund will allocate for Moldova a loan of 46.5 million USD by the end of this year. IMF experts paid a visit to Chisinau to evaluate the economic reform program realized by Filip Government in 2018. 

However, the final decision belongs to the IMF Board of Directors. The agreement signed in 2016 provides for the grant, by the end of 2019, of a loan of over 170 million dollars, in six installments. It was modified and extended until 2020. The Government also borrowed 61 million euros from the World Bank for the interconnection of electricity networks between the Republic of Moldova and Romania.




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