MOLDOVA
Renewed financial assistance expected from IMF
On 18 June, the International Monetary Fund (IMF) declared that it will resume financial assistance in the amount of $28 million to Moldova in October 1998, if Moldova shows signs of economic improvement in the financial, agricultural, and energy sectors. Prime Minister Ion Ciubuc stated that a harsh fiscal policy will be implemented for the next three months in order to meet the requirements put forth by the IMF. The promised loan is another installment from a total of $190 million which the organization agreed to appropriate to Moldova. (Basapress, 1910 GMT, 18 Jun 98; FBIS-SOV-98-169) In addition, the World Bank signed a credit agreement with Moldova on 23 June in which a program for further privatization of land and development of real estate was drafted. (Infotag, 1730 GMT, 23 Jun 98; FBIS-SOV-98-174) These agreements follow the installation of the new parliament in April and the selection of a new cabinet in June. Most importantly, they constitute a positive step towards building international organizations' confidence in Moldova's economic recovery.