IMF to disburse $18.6 M to enhance Moldova's currency reserves

The International Monetary Fund (IMF) will allocate $18.6 million to enhance the currency reserves of the Moldovan National Bank. The decision has been taken after the IMF Board okayed the fourth evaluation of the Poverty Reduction and Growth Facility with Moldova. The money will be disbursed as a next tranche within the program, Info-Prim Neo has learnt from the Government. After getting the tranche, the total disbursements within the program will amount to $143 million. The current Program with the IMF is to end by May 2009. Its core objective is insuring the macroeconomic stability, particularly aimed to decrease inflation under 10% a year. According to the official statistics, a deflation of 1.1% was recorded in June. The inflation during January-June was 6.2%. As of 30 June, the currency reserves managed by the Central Bank were $1.526 billion.

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