Mission Arrives in Chisinau Today for Two-week Visit
An International Monetary Fund mission led by Mr. David Owen, Deputy
Chief of the Southern Division of the Fundís European II Department and IMF
Mission Chief for Moldova, arrives today in Chisinau for a two-week visit.
The main tasks of the mission will be to review economic and
financial performance through end-September under the Extended Fund Facility (EFF)
arrangement between the IMF and the Republic of Moldova and to undertake
discussions on policies and targets for the fourth quarter and for 1998.
The mission will also undertake the annual IMF Article IV consultations
on economic policies and developments; these consultations are completed on a
scheduled basis with all IMF member countries and lead to preparation of a
comprehensive report by IMF staff.
SDR 135 million (approximately US$185 million) EFF arrangement was approved by
the Executive Board of the IMF in May 1996.
The second review of program performance under the EFF was completed by
the Executive Board of the IMF on July 16, 1997, following which a disbursement
of SDR 15 million (approximately US$20.4 million) was made.
This was the third tranche disbursement under the EFF program, following
disbursements of SDR 11.25 million in May and September 1996.
Total financial support from the IMF to the Republic of Moldova, under
the EFF program and earlier arrangements, amounts at present to SDR 181.1
million or nearly US$250 million.
Mark A. Horton
IMF Resident Representative