A mission of the European Department of the International Monetary Fund (IMF) led by Mr. Nikolay Gueorguiev will visit Chişinău during November 7-21, 2012.  

During its stay, the mission will hold discussions with the authorities in the context of the sixth 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.

 

Background: Moldova’s three-year IMF program, approved on January 29, 2010, is supported by a loan of SDR 369.6 million, of which SDR 320 million (about USD 490 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 5½ 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 4½ -year grace period.