February 2, 2017
IMF Resident Representative in the Republic of Moldova
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)
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.
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.