The International Monetary Fund transferred US$ 6 million of the about US$ 21.5 million made available to Moldova following the competition of the First Reviews. Another US$ 7 million will be transferred on May 9, Prime Minister Pavel Filiphas has said, quoted by IPN.
The Premier noted the money is not intended for a particular project, as it happens with financing provided within programs. The money comes to the national budget and is spent in accordance with the Government’s program.
“Our relations with the International Monetary Fund are good and for us the appreciation of this institution is very important,” stated Pavel Filip.
The Executive Board of the International Monetary Fund on April 28 completed the First Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements in a total amount of SDR 129.4 million. Completion of the review makes available SDR 15.7 million (about US$ 21.5 million).
The three-year arrangements under the EFF and ECF between the IMF and the Republic of Moldova were approved on November 7, 2016. The cumulative access under the arrangements is SDR 129.4 million (about US$178.7 million, or 75 percent of the Republic of Moldova’s quota). An amount equivalent to SDR 26 million (about US$35.9 million) was made available to the Moldovan authorities last November. The remaining amount will be phased in over the duration of the program, subject to five semi-annual program reviews.
