IMF says it won't negotiate new loan program with Moldova during 2-week visit

CHISINAU, Moldova – The International Monetary Fund says it will not negotiate a new loan program with Moldova during its visit to the country, dashing the government's hopes of an immediate agreement to help cover pensions and salaries.

An IMF mission began the two-week visit Tuesday, a day after Moldova's central bank governor Dorin Dragutanu resigned following weeks of street protests over $1.5 billion that disappeared from three Moldovan banks before parliamentary elections in November last year.

In a statement, the IMF said it is visiting for consultations and to "initiate discussions" that could later form a basis for a program.

Moldovan Prime Minister Valeriu Strelet had hoped for more advanced negotiations for an agreement, saying the pro-European government needs a loan to help pay salaries and pensions.