Limba romana                                                                                                      Russian

February 2, 2017  

Armine Khachatryan
IMF Resident Representative in the Republic of Moldova

PRESS STATEMENT 

An International Monetary Fund (IMF) mission will visit Chişinău during February 14-28, 2017.

The mission will take stock of the recent economic developments and the progress in authorities’ program implementation in the context of the first review of Moldova’s IMF-supported program under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) arrangements.   

The mission will introduce to the authorities Mr. Ben Kelmanson, who has replaced Ms. Ivanna Vladkova-Hollar as the IMF mission chief for Moldova from January 2017. Ms. Vladkova-Hollar has moved to a new assignment in the Office of the IMF Managing Director. 

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Background: Moldova’s three-year IMF program, approved on November 7, 2016, is supported by a loan of SDR 129.4 million (about US$176 million, or 75 percent of the Republic of Moldova’s quota), of which SDR 26 million (about US$35 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 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 1.3 percent), and is repayable over 10 years with a 4½ -year grace period.