A
mission of the European Department of the International Monetary Fund (IMF)
headed by Mr. Graeme Justice will work in Chişinău during December 4-16,
2008.
The
main task of the IMF mission is to conduct the Fifth Review under the PRGF
arrangement.
The mission will take
stock of the past performance of the government and the National Bank of
Moldova in meeting their commitments on the implementation of the
macroeconomic policies and structural reforms, will assess the macroeconomic
outlook for 2009, and will discuss the updating of the Memorandum on
Economic and Financial Policies (MEFP).
As usual, Mr. Justice
and his team will hold a short press briefing at the end of the visit.
The Poverty Reduction and Growth Facility (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. The PGRF
arrangement with Moldova totals about USD 166 million, of which
about USD 131 million have been disbursed so far.
