An International Monetary Fund (IMF) mission led by Ben Kelmanson will visit Chisinau during March 15-27, 2018. The mission will hold discussions with the authorities in the context of the third review of Moldova’s IMF-supported program under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements, IPN reports, quoting a press release of the IMF Office in Moldova.

The mission will take stock of recent economic developments and progress in the authorities’ program implementation, update and assess the macroeconomic outlook, and discuss with the authorities their macroeconomic policies in the period ahead. 

Moldova’s three-year IMF program, approved on November 7, 2016, is supported by a loan of SDR 129.4 million (about US$187 million, or about ¾ of the Republic of Moldova’s quota), of which SDR 57.4 million (about US$83 million) have been already disbursed.

Two thirds of the loan are provided under the Extended Credit Facility, which carries a zero interest rate through 2018, a grace period of 5½ years, and a 10-year maturity. The rest of the loan is provided under the Extended Fund Facility, which carries an annual interest rate equal to the SDR basic rate of charge (currently 1.8 percent), and is repayable over 10 years with a 4½ -year grace period.