Article 2

The Commission is hereby empowered to agree with the authorities of Moldova, after consulting the Economic and Financial Committee, the economic policy and financial conditions attached to the macro-financial assistance, to be laid down in a Memorandum of Understanding and a Grant Agreement. Those conditions shall be consistent with the agreements or understandings referred to in Article 1(2).

During the implementation of the Community macro-financial assistance, the Commission shall monitor the soundness of Moldova’s financial arrangements, administrative procedures, and the internal and external control mechanisms which are relevant to the assistance.

The Commission shall verify at regular intervals, in collaboration with the Economic and Financial Committee and in coordination with the IMF, that economic policies in Moldova are compatible with the objectives of the assistance and that the agreed economic policy and financial conditions are being satisfactorily fulfilled.