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IMF Staff Reach Staff-Level Agreement on the Fifth Reviews for Moldova’s Extended Credit Facility and Extended Fund Facility Arrangements, and First Review under the Resilience and Sustainability Facility

Press Release No. 24/182
May 24, 2024

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
 

  • IMF staff and the Moldovan authorities have reached staff-level agreements on policies for completion of the fifth reviews under the Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangements, and for the first review under the Resilience and Sustainability Facility (RSF).
  • Program performance has been broadly on track, although some structural reforms have been delayed.


An IMF team, led by Clara Mira, conducted discussions over the past few weeks, including in Washington, in Chișinău, and virtually for the fifth reviews of Moldova’s programs under the ECF/EFF arrangements, and the first review under the RSF arrangement. Discussions have concluded and Ms. Mira has issued the following statement:

"The Moldovan authorities and the IMF team have reached staff-level agreement on policies to complete the fifth reviews of Moldova’s programs under the ECF/EFF, and first review under the RSF. The agreement is subject to approval by the IMF’s Management and Executive Board. Completing the reviews will make SDR 133 million (about $175.2 million) available, bringing total disbursements under the ongoing programs to about $636.5 million.

"Program performance under the ECF/EFF has been broadly on track, though with some delays in implementation of structural reforms. Reform measures under the RSF are also on track for this review. An extension of the timeline for delayed reforms (on the adoption of the law on the establishment of an Anti-Corruption adjudication infrastructure, including a credible selection process for anti-corruption judges, and measures related to central bank independence) has been agreed, along with several proposed new structural benchmarks, including in the areas of governance, independence, transparency and accountability of the National Bank; strengthening the independence of the Anti-Corruption Prosecution Office in the hiring of its staff; strengthening and modernizing tax audits; and presenting the fiscal accounts in line with the Government Finance Statistics Manual 2014 (GFSM2014).

"Consideration of the reviews by the IMF Executive Board is planned for late June."

 
IMF Communications Department
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MEDIA RELATIONS
PRESS OFFICER: EVA GRAF
Phone: +1 202 623-7100       Email: MEDIA@IMF.org


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