SECOND DISBURSEMENT OF THE IMF LOAN IN THE AMOUNT OF US$48.1 MILLION WAS TRANSFERRED TO THE ACCOUNT OF THE NATIONAL BANK OF MOLDOVA

Chisinau-28.12.2006/13:40:42/(BASA-economic) The second disbursement of the IMF loan in the amount of US$48.1 million was transferred on the account of the National Bank of Moldova (BNM), central bank representatives communicated for BASA-press.

The money entered on the account of BNM, after on December 15 the IMF Executive Board completed first review under PRGF arrangement for Moldova and approved to increase the loan from about US$121 million up to US$167 million. The loan is to be used by BNM to supplement state official reserve assets.

Experts estimate that with the second disbursement of the IMF loan, currency reserves exceeded the amount of US$760 million, index stipulated in the Program signed between the Government and the IMF. On December 15, BNM's currency reserves constituted US$720.97 million (equivalent of 9.43 billion lei).

IMF Executive Board adopted the decision to grant Moldova the first disbursement on May 5; five days later IMF disbursed US$121 million.