IMF greenlights new installment for Moldova

The IMF Board of Governors has greenlit on Wednesday, December 20, a new installment of $22.3 million for Moldova. Prime Minister Pavel Filip broke the news on social media, saying the decision comes after the IMF approved the government’s report on the fulfillment of its commitments within the program, IPN reports.

The money will be allotted as budgetary support and will be used to cover economic and social needs. „Beyond the financial part, this proves that the government, the Parliament and the National Bank have fulfilled a new set of commitments and reforms, as agreed with the IMF. The government remains committed to the reform program and to obtaining positive results for the people”, writes Filip.

Moldova and the IMF agreed on the new $22 million installment in November, within the program signed in November last year.

The IMF program for Moldova was approved on November 7, 2016. It includes a loan of $182 million, 59 of which have already been received. Two thirds of the amount are offered via the extended credit facility, which has a 0% interest rate until 2018, a grace period of 5.5 years and a repayment period of 10 years. The remaining part of the loan is offered via the extended fund facility, with an annual interest rate of 1.3%, equal to the Special Drawing Rights, with a repayment period of 10 years and a grace period of 4.5 years.

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