An International Monetary Fund (IMF) mission led by Ruben Atoyan will hold discussions with the Moldovan authorities in Chisinau during July 20 – 29, 2022, IPN reports.

According to the IMF, the mission will discuss the recent economic developments and outlook, progress in program implementation, and risks facing the economy in the context of the first review under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements.

Moldova’s 40-month IMF program, approved on December 21, 2022, is supported by a loan of about US$526 million (SDR 400.0 million), of which US$217 million (SDR 165.3 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.