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
As usual, Mr. Gueorguiev will brief the press at
the end of the visit.
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.