Moldova & IMF IMF Activities Publications Press Releases

Limba romana                                                                         Russian

InfoMarket.MD News Agency, issue as of 15 May 2006

Moldova has received the first tranche of the IMF's preferential credit in the amount of $17 million in the framework of the new financing program for Moldova.

The "InfoMarket" news agency is reporting this with reference to the press service of the NBM.

Reportedly, these financial resources are designed to support the build-up of foreign exchange reserves, for maintaining the macro-economic stability and safeguarding from external shocks.

The three-year program envisages the allocation of $118.2 million. This concessional lending is provide for a term of 10 years, with a five and a half grace period and the 0.5% annual interest rate.

The next tranches will be allocated in 6-month increments, following an assessment of the program implementation.

NBM's foreign exchange reserves reached a record of $616.5 million as of May 5, 2006. During 2006 the IMF forecasts a 25.6% increase in NBM's foreign exchange reserves, which could reach $750 million at the end of the year. At the end of 2005, the reserves constituted $597 million.