An International Monetary Fund (IMF) mission led by Ruben Atoyan will hold discussions with the Moldovan authorities in the context of the second review under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements in Chisinau during October 31 – November 11, 2022, IPN reports.

“The primary purpose of the mission is to discuss the contours of the state budget for 2023 under preparation, assess the macroeconomic outlook and risks, and follow up on the implementation of program commitments,” says a press statement issued by Rodgers Chawani, IMF Resident Representative in the Republic of Moldova.

Moldova’s 40-month IMF program, approved on December 21, 2021 and augmented in May 2022, is supported by a loan of about US$826 million (SDR 594.3 million), of which US$258 million (SDR 185.95 million) have been already disbursed.

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.