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Limba romana                                                                                             Russian

MOLDOVA AND THE IMF
FACTSHEET

At a Glance

  • Moldova joined the IMF on August 12, 1992.

  • Moldova’s quota in the IMF amounts to SDR 172.5 million (about US$ 243 million) or 0.04 percent of total quota. Moldova’s voting power in the IMF is 1,973 votes or 08 percent of total.

  • Moldova accepted the obligations of Article VIII of the IMF Articles of Agreement on June 30, 1995.

  • Moldova’s currency is the leu (MDL); its external value is market determined.

  • Moldova’s Governor in the IMF is Mr. Octavian Armaşu, Governor of the National Bank of Moldova; Moldova’s Alternate Governor in the IMF is Mr. Vladimir Munteanu, First Deputy Governor of the National Bank of Moldova.

  • Mr. Anthony De Lannoy is Moldova’s Executive Director in the IMF; his constituency also includes Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, the former Yugoslav Republic of Macedonia, Montenegro, Romania, and Ukraine.

  • Mr. Ruben Atoyan is IMF's Mission Chief for Moldova.

  • Mr. Rodgers Chawani is IMF's Resident Representative in Moldova.

Financial Assistance

Since 1993, Moldova has had the following arrangements with the IMF in support of the authorities' economic adjustment programs: Compensatory and Contingency Financing Facility (CCFF), Systemic Transformation Facility (STF), Stand-by arrangements (SBA), Extended Fund Facilities (EFF), and Poverty Reduction and Growth Facilities (PRGF) - from 2009 called Extended Credit Facilities (ECF). In August 2009 Moldova benefited from a one-time SDR allocation amounting to SDR 117.71 million.

Since 2020 Moldova got access to the funding under the Rapid Financing Instrument (RFI), available to all members, and the Rapid Credit Facility (RCF), available only to low-income countries eligible for concessional financing. On April 17, 2020 Moldova received an outright RCF/RFI loan amounting to SDR 172.5 million (emergency assistance to address the pandemic).

In August 2021 Moldova benefited from a new SDR allocation amounting to SDR 165.3 million
(SDR allocation is cost free. Allocating SDRs does not require contributions from donor countries’ budgets. SDRs are a reserve asset, not foreign aid. Most importantly, an SDR allocation does not add to any country’s public debt burden).

Total Fund credit and loans outstanding at the end of September 2021 amounted to SDR 318.1 million
(about US$ 448 million).

Type of
Arrangement/Resources
/Outright Loans
Approval
Date
Expiration/
Cancellation
Date
Amount
Approved
(SDR Million)
Amount
Drawn
(SDR Million)
CCFF 15-Jan-93

--

13.50 13.50
CCFF 19-Dec-94

--

12.20 12.20
STF* 16-Sep. 1993 15-Sep. 1994 45.00 45.00
Stand-by 17-Dec. 1993 16-Mar. 1995 51.75 51.75
Stand-by 22-Mar. 1995 21-Mar. 1996 58.50 32.40
EFF 20-May 1996 19-May 2000 135.00 87.50
PRGF 21-Dec. 2000 20-Dec. 2003 110.88 27.72
PRGF** 5-May 2006 4-May 2009 110.88 88.00
EFF 29-Jan. 2010 30-Apr. 2013 184.80 149.12
ECF 29-Jan. 2010 30-Apr. 2013 184.80 170.88
EFF 07-Nov. 2016 13-Mar. 2020 86.30 86.30
ECF 07-Nov. 2016 19-Mar. 2020 43.10 43.10
RFI 17-Apr. 2020 - 115.00 115.00
RCF 17-Apr. 2020 - 57.50 57.50

* The STF was a temporary IMF financing facility that provided assistance to member countries facing balance of payments difficulties arising from severe disruptions in their trade and payments arrangements owing to a shift from reliance on trading at nonmarket prices to multilateral market-based trade.
**
The PRGF was replaced by ECF in 2009.

Year

SDR million

Purchases and Loans Charges and

Interest Paid

Disbursements Repayments
1993 63.0 0 0.7
1994 49.5 0 3.5
1995 42.4 0 6.7
1996 22.5 5.1 7.1
1997 15.0 14.6 8.0
1998 0 47.2 7.6
1999 50 47.9 5.5
2000 9.2 18.6 6.2
2001 9.2 11.3 5.0
2002 9.2 13.8 2.8
2003 0 15.8 2.0
2004 0 14.6 1.7
2005 0 14.6 1.8
2006 43.4 16.4 1.7
2007 21.7 14.5 1.4
2008 22.9 16.0 0.9
2009 0 9.7 0.5
2010 120 5.5 0.3
2011 100 3.9 0.8
2012 100 10.5 1.2
2013 0 14.2 1.6
2014 0 19.3 1.6
2015 0 29.1 1.5
2016 26.0 52.5 1.4
2017 31.4 63.5 1.9
2018 24.0 62.5 2.4
2019 33.6 59.0 2.4
2020 186.9 53.4 2.3
2021 0 28.6 1.8


 

Month Purchases and Loans      SDR million
Disbursements Repayments
Jan-17 0 9.5
Feb-17 0 12.4
Mar-17 0 4.2
Apr-17 10.5 4.8
May-17 5.2 0
Jun-17 0 0
Jul-17 0 9.5
Aug-17 0 14.1
Sep-17 0 1.1
Oct-17 0 7.8
Nov-17 0 0
Dec-17 15.7 0
Jan-18 0 7.3
Feb-18 0 14.1
Mar-18 0 1.1
Apr-18 0 9.2
May-18 0 0
Jun-18 16.0 0
Jul-18 8.0 7.3
Aug-18 0 14.1
Sep-18 0 0
Oct-18 0 9.2
Nov-18 0 0
Dec-18 0 0
Jan-19 0 6.2
Feb-19 0 14.1
Mar-19 0 0
Apr-19 0 9.2
May-19 0 0
Jun-19 0 0
Jul-19 0 6.2
Aug-19 0 14.1
Sep-19 33.6 0
Oct-19 0 9.2
Nov-19 0 0
Dec-19 0 0
Jan-20 0 11.8
Feb-20 0 8.4
Mar-20 14.4 0
Apr-20 172.5 0
May 20 0 0
Jun-20 0 0
Jul-20 0 10.2
Aug-20 0 4.4
Sep-20 0 0
Oct-20 0 9.2
Nov-20 0 0
Dec-20 0 0
Jan-21 0 4.5
Feb-21 0 4.4
Mar-21 0 0
Apr-21 0 9.2
May 21 0 1.4
Jun-21 0 0
Jul-21 0 4.5
Aug-21 0 4.4
Sep-21 0 0

More detailed tables:  Republic of Moldova: Financial Position in the Fund (including transactions with the Fund - summary of disbursements and repayments, IMF credit outstanding, projected payments...)


IMF Staff Reports on Moldova

Memorandums of Economic and Financial Policies

Other IMF Publications on Moldova

IMF Articles of Agreement
 

Technical Assistance

The IMF has provided Moldova with technical assistance in a number of areas, including fiscal management, public expenditure, tax and customs, monetary accounting system, bank supervision, monetary policy/central bank organization, and in various statistical areas.

The IMF Institute provided training to Moldovan officials in areas such as financial programming and policy, external policies, monetary and exchange operations, and balance of payments and government finance statistics; Moldovan officials also attended courses and seminars offered by the Joint Vienna Institute, in areas such as central bank accounting, macroeconomic analysis and policy, public expenditure, tax policy administration and reform, banking supervision, and in various statistical areas.

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Last update: October 2021