9 Amendments of Younous OMARJEE related to 2017/0007(COD)
Amendment 10 #
Proposal for a decision
Recital 9
Recital 9
(9) The Union’s macro-financial assistance should be an exceptional financial instrument of untied and undesignated balance-of-payments support, which aims at addressing the beneficiary’s immediate external financing needs and should underpin the implementation of a policy programme containing strong immediate adjustment and structural reforminvestment measures designed to improve its production model and the balance-of- payments position in the short term.
Amendment 11 #
Proposal for a decision
Recital 10
Recital 10
(10) Given that there is still a significant residual external financing gap in Moldova's balance of payments over and above the resources provided by IMF and other multilateral institutions, the Union macro-financial assistance to be provided to Moldova is, under the current exceptional circumstances, considered to be an appropriate response to Moldova's request for support to the economic stabilisation, in conjunction with the IMF programme. The Union's macro-financial assistance would support the economic stabilisation and the structural reform agenda of Moldovainvestment plans of Moldova in order to innovate and enhance its production model, supplementing resources made available under the IMF's financial arrangement.
Amendment 13 #
Proposal for a decision
Recital 18
Recital 18
(18) A pre-condition for granting the Union's macro-financial assistance should be that Moldova respects effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Moldova and promote structural reforms aimed at supporting sustainable and inclusive growth, and employment creation and fiscal consolidation. Both the fulfilment of the preconditions and the achievement of those objectives should be regularly monitored by the Commission and the European External Action Service.
Amendment 14 #
Proposal for a decision
Recital 24
Recital 24
Amendment 15 #
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
1. The Union shall make macro- financial assistance of a maximum amount of EUR 100 million available to Moldova ("the Union's macro-financial assistance"), with a view to supporting Moldova's economic stabilisation and a substantive reform agendainvestment plans based on the innovation and diversification of its economy, in order to make its economy more independent and of higher quality. Of that maximum amount, up to EUR 60 million shall be provided in the form of loans and up to EUR 40 million in the form of grants. The release of the Union's macro-financial assistance is subject to the approval of the Union budget for the relevant year by the European Parliament and the Council. The assistance shall contribute to covering Moldova's balance of payments needs as identified in the IMF programme.
Amendment 16 #
Proposal for a decision
Article 1 – paragraph 4
Article 1 – paragraph 4
Amendment 17 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Moldovan authorities on clearly defined economic policy and financial conditions, focusing on structural reforminvestment and diversification plans and sound public finances, to which the Union's macro-financial assistance is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the fulfilment of those conditions. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Moldova with the support of the IMF.
Amendment 18 #
Proposal for a decision
Article 4 – paragraph 3 – subparagraph 1 – point b
Article 4 – paragraph 3 – subparagraph 1 – point b
(b) a continuous satisfactory track record of implementing a policy programme that contains strong adjustment and structural reform measuresmeasures in line of a new investment plan for diversification and a enhanced production model supported by a non- precautionary IMF credit arrangement; and
Amendment 19 #
Proposal for a decision
Article 6 – paragraph 3 – point b a (new)
Article 6 – paragraph 3 – point b a (new)
(b a) ensuring that Moldova makes good progress in implementing measures to prevent money laundering and tax evasion, through an international commitment of automatic exchange of tax information and identification of real investors and beneficial owners;