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January 17, 2020
IMF Resident Representative in the Republic of Moldova
Monetary Fund (IMF) mission led by Ruben Atoyan will visit Chişinău during
January 22 – February 5, 2020.
The mission will hold discussions with the
authorities in preparation of the 2020 Article IV consultation and
in the context of the sixth and final reviews of Moldova’s IMF-supported program
under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF)
The mission will take
stock of the recent economic developments and the progress in authorities’
program implementation, update and assess the macroeconomic outlook, and discuss
with the authorities medium-term challenges and risk facing Moldova’s economy
and policies to address them.
Moldova’s three-year IMF program, approved on November 7, 2016, is supported by
a loan of SDR 129.4 million (about US$182 million, or 75 percent of the Republic
of Moldova’s quota), of which SDR 115 million (about US$160 million) have been
already disbursed. Two thirds of the loan are provided under the Extended Credit
Facility, which carries a zero interest rate through 2018, a grace period of 5˝
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 1.7 percent), and is repayable over 10 years
with a 4˝ -year grace period.