Moldovan president seeks $65mln loan from Romania

Moldovan president seeks $65mln loan from Romania

PanARMENIAN.Net - Moldovan president Nicolae Timofti has met his Romanian counterpart to discuss reforms his government needs to implement to access a $65 million loan promised by Romania on condition Moldova stays on a pro-European course, the Associated Press reports

Moldova has been hit by months of protests following the disappearance of more than $1 billion from three Moldovan banks prior to November 2014 Parliamentary elections.

Last month, Romanian Prime Minister Dacian Ciolos said Moldova needed to reform its justice system, fight corruption, sign a draft agreement for a loan from the International Monetary Fund, and appoint a central bank governor to get the money. Romania is Moldova's closest ally.

Timofti met Romanian President Klaus Iohannis Tuesday to discuss promises made by the Moldovan government to reform the banking and justice system.

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