Economics

IMF MISSION TO COME TO MOLDOVA ON WEDNESDAY

20 january, 2020

A mission of the International Monetary Fund headed by Ruben Atoyan will be working in Moldova on January 22 through February 5 to analyze the recent economic events and the process of implementing the cooperation program, to assess macroeconomic perspectives, as well as will discuss with authorities the problems the Moldovan economy is facing and solutions for these in mid-term perspective.

According to the statement of IMF Permanent Representative in Moldova Volodymyr Tulin for the press, the mission will hold discussions with Moldovan authorities in the context of preparing for 2020 consultations in accordance with the IMF Statute provisions, as well as for conducting the 6th (the last) overview of Moldova program, financed by the Fund.

The three-year IMF-Moldova program, approved on November 7, 2016, implies around US$182 million of financial assistance, US$160 million of which have already been received. Two-thirds of the credit are allocated by means of the Extended Credit Facility (ECF) that implies zero interest rate until end-2018, 5.5-year grace period in payments and 10-year repayment period. The rest of the sum is provided by means of the Extended Fund Facility (EFF) which implies interest rate equal with the base rate of SDR (currently 1.7% per year), 10-year repayment period and 4.5-year grace period in payments.

In accordance with the IMF Statute, as a rule, bilateral consultations are annually conducted with all member countries. The IMF mission comes to the country for collecting economic and financial data and for discussing the economic progress and the conducted policies with authorities. After returning to the headquarters, a report is compiled, which is the main document, proposed to the Executive Council for consideration.

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