Moldova

Moldovan president praises Russian loan, criticizes IMF

June 25, 2009

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The Moldovan acting president and leader of the ruling Communist Party, Vladimir Voronin, has thanked Russia for the support it has provided. He said this at a news conference on Wednesday, 24 June.

"Russia understands how difficult the situation is and is offering help. It is true when they say that a friend in need is a friend indeed," Voronin said.

He said that during his visit to Moscow this week it was decided that Russia will give Moldova a loan of 500m dollars, as well as a grant of 20m dollars to restore the buildings of parliament and presidential administration damaged during the 7 April riots.

"The issue of the loan is a political decision. All the other details will be discussed in the appropriate order. These proceeds will be used for investment projects, infrastructure development and construction of roads. Other variants are possible too, depending on the financial and economic crisis. One thing is clear, that ! this money will not be used for consumption, this is unacceptable," Voronin said.

He denied rumours that Moldova will yield to Russia some of its gas pipelines in exchange for the loan. "We will settle the credit with money, we offer nothing else. In addition, the gas pipelines belong to the Moldovagaz company, 50 per cent of which are owned by Gazprom," Voronin said.

Answering questions from journalists, Voronin said, "The Russian loan should not impact Moldova's relations with the IMF." "The IMF is behaving like a wife who dumps her husband from time to time. The IMF left Moldova in 2001, when the Communist Party came to power. Then they came back in 2005. And they asked: 'How did you manage to achieve results like this?' We achieved them because you were not here!" Voronin said.

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