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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$ 232 million) or 0.04 percent of total quota. Moldova’s voting power in the IMF is 1,973 votes or 0.08 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 Ms. Anga Dragu, 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. Jeroen Clicq is the Executive Director for Moldova at the IMF; his constituency also includes Andorra, Armenia, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Luxembourg, Montenegro, Netherlands, Republic of North Macedonia, Romania, and Ukraine.

• Ms. Alina Iancu is IMF's Mission Chief for Moldova.

• Ms. Svetlana Cerović 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).

The current ECF/EFF arrangement was approved on December 21, 2021 in the amount of SDR 400 million. It was augmented on May 11, 2022, reaching SDR 594.26 million (about US$ 800 million). The objectives were to sustain the post-pandemic recovery, address pressing developmental needs, and strengthen governance and institutional frameworks.

On December 7, 2023 a new arrangement for Moldova was approved under the Resilience and Sustainability Facility (RSF), in the amount of SDR 129.375 million (about US$ 174 million). The RSF supports Moldova’s efforts to strengthen resilience against climate shocks, support energy sector reforms, enhance domestic financial sector preparedness, and mobilize sustainable finance.

Total Fund credit and loans outstanding at the end of August 2024 amounted to SDR 675 million (about US$ 909 million).

* 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.

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.

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Last update: September 2024