IFM provides US$77m to Moldova

The International Monetary Fund (IMF) on September 28 approved the disbursement to Moldova of the next tranche of 50 million Special Drawing Rights (SDR), which is the equivalent of about US$77 million, Info-Prim Neo reports. The Government’s press service quoted a communiqué from the IMF, saying that Moldova’s economy grew at an impressive pace of about 14% cumulatively over 2010-2011, fueled especially by the increase in exports and internal demand and the improvement of policies in the context of the Program supported by the IMF. The IMF sees Moldovan economic growth accelerating in the second half of 2012 mainly due to investment in infrastructure projects and economic growth in the countries of the Commonwealth of Independent States. So far, Moldova has received 320 million SDR under the three-year funding deal of about US$572.7 million with the IMF that was approved on January 29, 2010. The tranche will become available for the Moldovan authorities immediately after the IMF Board of Directors gives its consent.

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