The Republic of Moldova can access the total amount of US $ 46.1 million made available by the International Monetary Fund under the Extended Credit Facility (ECF) and the Extended Financing Mechanism (EFF) of the financial institution, IPN reports.
A statement of the IMF's permanent representation in the Republic of Moldova, says that the Executive Board of the financial institution approved the request of the authorities of the Republic of Moldova to extend the program period until March 20, 2020 and to adjust the disbursement schedule, in order to allow the successful completion of the program.
The decision of the IMF Executive Board follows the completion of the fourth and fifth reviews of the program under the Extended Credit Facility and the Extended Financing Mechanism.
The ECF/EFF program, in a total amount of US $ 178.7 million or 75 percent of Moldova's IMF quota was approved on November 7, 2016.
The purpose of IMF funding is to support the program of economic and financial reforms promoted by the authorities.