June 19, 2019
IMF Resident Representative in the Republic of Moldova
An International Monetary Fund (IMF) mission led by Ruben Atoyan will visit
Chişinău during June 26 – July 10, 2019.
The mission will hold discussions with the authorities in the context of the
review of Moldova’s IMF-supported program under the Extended Credit Facility (ECF)
and the Extended Fund Facility (EFF) arrangements.
The mission will take stock of recent economic developments and progress in the
program implementation, update and assess the macroeconomic outlook, and discuss
with the authorities their macroeconomic policies in the period ahead.
Background: Moldova’s three-year IMF program, approved on November 7,
2016, is supported by a loan of SDR 129.4 million (about US$179 million, or
about ¾ of the Republic of Moldova’s quota), of which SDR 81.4 million (about
US$112 million) have been already disbursed. Two thirds of the loan are provided
under the Extended Credit Facility, which carries a zero interest rate through
2018, a grace period of 5½ years, and a 10-year maturity. The rest of the loan
is provided under the Extended Fund Facility, which carries an annual interest
rate equal to the SDR basic rate of charge (currently 2.1 percent), and is
repayable over 10 years with a 4½ -year grace period.