An International Monetary Fund (IMF) mission led by Alina Iancu will visit Chisinau on October 1-11, 2024.
The IMF mission will hold discussions in the context of the sixth review of the program supported under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) and the second review of the program supported under the Resilience and Sustainability Financing Facility (RSF).
According to an IMF press release, the main purpose of the IMF experts is to review “recent developments in the economy, assess macroeconomic prospects and risks, and learn about progress in the implementation of actions agreed under the IMF-supported program.”
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The IMF approved the Moldovan authorities’ 40-month program, supported through the ECF and EFF financing facilities, on December 21, 2021. In May 2022, they increased the total lending volume to about USD 805 million (594.3 million SDRs), with around USD 608 million (449.1 million SDRs) already disbursed. Additionally, in December 2023, they approved a new program under the RSF financing facility for approximately USD 175 million (129.4 million SDRs), with about USD 44 million (32.3 million SDRs) already disbursed.
The ECF financing has an annual interest rate of zero percent, a grace period of five and a half years, and a repayment term of ten years, while the EFF financing has an annual interest rate equal to the base rate of interest for the SDRs, a repayment term of ten years and a grace period of four and a half years. The RSF financing provides a repayment term of 20 years with a grace period of ten and a half years, during which the principal remains unpaid.