| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 155, Pages 1-3 |
| Publication Date | 16/06/2023 |
| Content Type | Legislation, News, Policy-making |
Summary:Decision (EU) 2023/1165 - adopted by the co-legislators on 14 June 2023 - introducing amendments to Decision (EU) 2022/563 as regards the amount of macro-financial assistance to Moldova. Further information:Decision (EU) 2022/563 established a new emergency Macro-Financial Assistance (MFA) programme for Moldova. However, the circumstances underlying Moldova's programme further worsened - the country is both directly and indirectly affected by Russia's invasion of Ukraine, which came on top of an energy crisis. Moreover, thousands of people crossed the Moldovan border since the start of the war, which added pressure on Moldova's public finances. The overall macroeconomic position weakened further in 2022. Presenting limited buffers to mitigate the crisis, Moldova requested further assistance from international partners. The proposed increase comes as part of larger EU and international assistance for Moldova. The existing MFA programme was requested by Moldova in November 2021. It was adopted by the co-legislators in April 2022 and it entered into force in July 2022. The operation was made available in combination with a new arrangement from the International Monetary Fund (IMF), which was adopted in December 2021 and expanded in May 2022. Notwithstanding the existing assistance to Moldova, the worsening circumstances led the financial gap for 2023 to increase by €430 million. This Decision increases the existing MFA programme by €145 million, paid in three instalments linked to a series of policy conditions. The draft law was adopted by the European Commission on 24 January 2023. It was endorsed by the plenary of the European Parliament on 23 March and by the Council of the European Union on 30 May. The Act was signed by the co-legislators on 14 June 2023 and published in the Official Journal on 16 June 2023. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/dec/2023/1165/oj |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation, European Neighbourhood Policy [ENP] |
| Keywords | Macro-Financial Assistance [MFA] |
| Countries / Regions | Moldova |
| International Organisations | European Union [EU] |
