IMF mission comes to Moldova to take stock of recent economic developments

An International Monetary Fund (IMF) mission led by Clara Mira will visit Chisinau during April 22 – May 2, 2024. In a press statement, IMF Resident Representative in the Republic of Moldova Svetlana Cerović says that the mission will hold combined discussions with the authorities in the context of the fifth review under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements, and the first review under the Resilience and Sustainability Facility (RSF), IPN reports.

The mission will take stock of the recent economic developments and the progress in the authorities’ program implementation and will update and assess the macroeconomic outlook.

Moldova’s 40-month ECF and EFF IMF program, approved on December 21, 2021, and augmented in May 2022, is supported by a loan of about US$783 million (SDR 594.3 million), of which about US$459 million (SDR 348.5 million) have been already disbursed.

In addition, a new arrangement under the RSF of about US$170 million (SDR 129.4 million) was approved in December 2023.

Financing under the ECF carries a zero-interest rate with a grace period of 5½ years, and a final maturity of 10 years, and financing under EFF carries an annual interest rate equal to the SDR basic rate and is repayable over 10 years with a 4½-year grace period. Financing under the RSF reaches maturity in 20 years and has a 10½-year grace period during which no principal is repaid.

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