Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-22-Speech-4-022"
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"en.20091022.5.4-022"2
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The elections that were re-run on 29 July in the Republic of Moldova were a crucial test of the country’s ability to consolidate its democratic development and continue to progress towards rapprochement with the European Union. We are pleased that the elections were held in a calm, orderly atmosphere and that the new government has not only expressed its firm intention to favour a pro-European course, but has also adopted a number of measures pointing in this direction.
We welcome, in particular, that Members of the European Parliament have requested urgent support for the Republic of Moldova. In the coming months, we will call on you to support the efforts we are making in this area. We are confident that Parliament will promptly approve the macrofinancial assistance package for the Republic of Moldova when it is tabled before it. This will enable us to ensure that this assistance is provided in good time.
Before I conclude my speech, ladies and gentlemen, allow me to refer briefly to the situation in Transnistria. I would first of all like to stress how important it is for us not to lose sight of this problem against the backdrop of the significant political changes which are taking place in the Republic of Moldova. The talks aimed at resolving the conflict should be resumed as soon as possible in the 5+2 format. We are optimistic about this as the new government has reaffirmed its support for this principle in its programme. The European Union has an increasingly important influence in this process.
We are counting on the new government in Chişinău to adopt a proactive approach to this problem, which will help resolve the conflict. As far as we are concerned, we have just launched two project packages, with financing from the European Commission, for strengthening confidence in the health, environmental protection, social and economic sectors. This action is part of our constant wider efforts aimed at resolving the conflict.
Ladies and gentlemen, the Republic of Moldova is at a crossroads, both politically and economically. We are fully committed to supporting the country’s future development. We will continue to do our utmost, at this particularly critical juncture, to ensure that our support is substantial and effective and that it is delivered at the right moment.
On the other hand, the new authorities in the Republic of Moldova are facing enormous difficulties. One of the most serious crises and biggest difficulties is the need to tackle the consequences of the economic and financial crisis. Among the European Union’s neighbours to the east, the Republic of Moldova is probably in the most precarious economic situation. Trade and industrial production have collapsed not only as a result of the crisis, but also due to the political unrest triggered by the parliamentary elections in April.
The amounts of money transferred from abroad by Moldovan citizens, which accounted, up until last year, for over a third of the country’s GDP, have dropped far below the usual level. Exports and imports have fallen dramatically. The same applies to domestic demand and industrial production. A sharp drop is forecast for 2009, by even more than 10% of GDP.
Given that the Republic of Moldova is already the poorest country in Europe, this decline will hit particularly hard and will exacerbate even further the difficulties the population is struggling with, especially the most vulnerable people in society. In order to provide aid to the Republic of Moldova and its population, the European Union is prepared to support this country by offering it macrofinancial assistance, on top of whatever may be provided by the International Monetary Fund, and as part of a coordinated effort with the latter. In addition, we will provide specialist assistance and speed up payment of our usual aid to this country.
With regard to macrofinancial assistance, as is necessary for this type of assistance, our support will depend on concluding an agreement on a support programme between the Republic of Moldova and the International Monetary Fund. Representatives of the IMF are currently in Chişinău, and we await their report with interest. We cannot go ahead with preparing a macrofinancial assistance programme before launching the programme with the IMF. Therefore, it is too early for us to be able to know what form the macrofinancial assistance programme which the European Commission might provide will take
We expect the country’s authorities to ask for help, not only to consolidate their currency reserves, but also to cover their budget deficit. I must also mention that the Republic of Moldova is eligible for both grants and loans. The final composition of this assistance package will depend, of course, on the needs which will be identified.
In the meantime, the European Commission has already sent a mission of experts to Chişinău, headed up by the Directorate-General for Economic and Financial Affairs, DG ECFIN, to provide the authorities in the Republic of Moldova with help in drawing up their economic programme. The mission’s objective deriving from the recent meeting with the authorities in Chişinău was to help them evaluate the country’s response to the current economic situation. The Commission’s services have been used on this occasion to gather the information required to prepare a macrofinancial assistance programme.
The Commission remains available to continually offer the authorities in Chişinău specialist consultancy in this area. At the same time, we are endeavouring to speed up the payments from the budget support operations featuring as part of the European Neighbourhood and Partnership Instrument. In September, the European Commission approved an increase from EUR 30.5 million to EUR 34.5 million of the ceiling for payments earmarked for budget support this year. Of course, the aim of our assistance in the form of budget support is, first and foremost, to encourage reforms in the agreed sectors, and not only to plug gaps in the budget.
However, in the current situation, it is more than a means of supplementing the limited budget resources. It is also a way of helping the population of the Republic of Moldova to overcome the real difficulties they are facing."@en1
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