A mission of the European Department of the International Monetary Fund
(IMF) led by Mr. Nikolay Gueorguiev will visit Chişinău during May 3-17,
During its stay, the mission will hold discussions with the authorities in
the context of the 2012 Article IV Consultation and fifth reviews of the
Moldova’s IMF-supported program under the Extended Credit Facility (ECF) and
the Extended Fund Facility (EFF) arrangements.
The mission will take stock of the recent economic developments, update and
assess the macroeconomic outlook, and discuss with the authorities their
macroeconomic policies in the period ahead.
As usual, Mr. Gueorguiev will brief the press at the end of the visit.
Moldova’s three-year IMF program, approved on January 29, 2010, is supported
by a loan of SDR 369.6 million, of which SDR 270 million (about USD 415
million) have been already disbursed. One half of the loan is provided under
the Extended Credit Facility, which carries a zero interest rate through
2013, a grace period of 5˝ 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 1.15
percent), and is repayable over 10 years with a 4˝ -year grace period.