Romanian PM says first loan to Moldova has been paid

Markets Associated Press

Romania's prime minister says his country has paid 60 million euros ($68 million) to Moldova, the first part of a larger loan, and urged the government to continue making reforms.

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In July, the International Monetary Fund reached an agreement with Moldova for a $179 million, 3-year loan arrangement conditional on the government carrying out reforms. Romania, a close ally of Moldova, is helping out financially.

During a one-day visit Thursday, Premier Dacian Ciolos praised reforms carried out so far by Moldova's government, which have also been approved by the IMF and European Commission.

He said: "The Romanian government wants Moldovan citizens to enjoy a better situation, which is why we unreservedly support reforms."

Ciolos said the money was paid Wednesday.