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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
(US$ 231.9 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
April 2022 amounted to SDR 358.8
million
(US$ 482.3 million).
Type of
Arrangement/Resources
/Outright Loans |
Approval
Date |
Expired/
Drawn |
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 |
21-Apr. 2020 |
115.00 |
115.00 |
RCF |
17-Apr. 2020 |
21-Apr. 2020 |
57.50 |
57.50 |
ECF |
20-Dec. 2021 |
19-Apr-2025 |
133,30 |
19,05 |
EFF |
20-Dec. 2021 |
19-Apr-2025 |
266,70 |
38,10 |
*
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 |
57.2 |
35.3 |
2.3 |
2022 |
0 |
9.7 |
0.6 |
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 |
Oct-21 |
0 |
5.3 |
Nov-21 |
0 |
1.4 |
Dec-21 |
57.2 |
1.4 |
Jan-22 |
0 |
0 |
Feb-22 |
0 |
4.4 |
Mar-22 |
0 |
0 |
Apr-22 |
0 |
5.3 |
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.
_____________________
Last update: May 2022 |