IMF Approves Augmentation of Access and USD 48.2 Million Disbursement

The Executive Board of the International Monetary Fund (IMF) approved on Friday, December 15, the augmentation of the Poverty Reduction and Growth Facility (PRGF) arrangement granted to Moldova from approximately 121 million USD up to 167 million USD, on a three year period, said Johan Mathisen, resident representative of the IMF in Moldova. According to an official statement of the IMF Office in Moldova, cited by Info-Prim Neo, the second disbursement under the arrangement was approved to a total amount equivalent to 48.2 million USD (31.97 million Special Drawing Rights). PGRF is the crediting mechanism of the IMF with a preferential regime for low income states. The interest rate for credits in the PRGF basis constitutes 0.5% annually, and credits are offered on a 10 year term, with a grace period of 5.5 years).