IMF mission to evaluate achievements obtained in new agreement with Moldova

A mission of the International Monetary Fund (IMF), headed by Thomas Richardson, will be paying a visit to Chisinau on July 12-21. According to the IMF Bureau in Moldova, the mission will held discussions with Moldovan authorities concerning recent economy evolutions, including the achievements in the framework of the new PRGF program. By the end of the mission, a press conference will take place. The IMF program for the Republic of Moldova was approved at the beginning of May for a 3-year period, worth MDL 118.2 mln. The agreement was approved on the basis of the Mechanism for the Economic Growth and Poverty Reduction Paper (EGPRSP) and will be oriented towards the realization of its objectives. The IMF credits are on a term of 10 years, at an interest rate of 0.5 % and a period of grace of 5.5 years. Disbursements will take place at every 6 months. After each installment there will be an assessment from IMF. The Republic of Moldova lacked an agreement with IMF since 2003. From the previous program worth USD 147 mln, the Republic of Moldova has received only three installments of about USD 37 mln.