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The Executive Board of the International Monetary Fund (IMF)
completed on July 10, 2008 the fourth review of Moldova's
performance under the three-year Poverty Reduction and
Growth Facility (PRGF) arrangement on a lapse of time basis1.
The completion of the review enables the release of an
amount equivalent to SDR 11.44 million (about US$18.6
million), which will bring the total disbursements to
Moldova under the PRGF arrangement to SDR 88 million (about
US$143 million). The PRGF arrangement was approved on May 5,
2006 (see Press
release No. 06/91).
The Executive Board also granted a waiver for the non-observance of the end-March 2008 structural performance criterion related to the adoption of legislation on the State Tax Inspectorate. 1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions. |
