Moldova & IMF IMF Activities Publications Press Releases


                                                                                                   Limba romana

October 6, 2006


 

Johan Mathisen
IMF Resident Representative in the Republic of Moldova


 

PRESS STATEMENT


A mission from the IMFs European Department, headed by Mr. Thomas Richardson, will work in Chisinau from Wednesday, October 11, to Wednesday, October 25, 2006. This is the first review mission under Poverty Reduction and Growth Facility (PRGF*).

The main task of the IMF mission is to take stock of the past performance of the government and the National Bank in meeting commitments under the program, and to assess the macroeconomic outlook for 2007. The mission will also attempt to come to an agreement with the government and the National Bank on macro projections for 2007 and associated targets. On the structural side, we expect that the focus of the program will continue to be on three areas: continued financial sector reform, improved fiscal management, and structural reforms designed to improve the business environment.

Finally, as usual, Mr. Richardson and his team will hold a short press briefing at the end of this visit.
 

 


* The PRGF is the IMF's concessional facility for low income countries. PRGF loans carry an annual interest rate of 0.5 percent, and are repayable over 10 years with a 5.5-year grace period on principal payments. On May 5, 2006 IMFs Executive Board approved the PGRF arrangement with Moldova in the total amount of about US$118.5 million, the first tranche of which about US$17 million was transferred to the National Bank of Moldova in mid-May 2006.