Prime Minister Pavel Filip, in the May 3 meeting of the Cabinet, congratulated all those who contributed to the successful completion of the First Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements in a total amount of SDR 129.4 million. Completion of the review makes available SDR 15.7 million (about US$ 21.5 million) to Moldova, IPN reports.
“The success consists not only in financial assistance. The attitude shown by the International Monterey Fund is also important. The issued press release clearly shows which the tendencies in the Republic of Moldova are and what we managed to do until now and this is an answer to the unfounded criticism,” said Pavel Filip.
In the same connection, the Premier requested the authorities to mobilize further so as to fully implement the reform agenda, including for fulfilling all the commitments assumed by the Agreement with the IMF.
The Executive Board of the IMF approved three-year arrangements under the EFF and ECF with the Republic of Moldova on November 7, 2016. The cumulative access under the arrangements is SDR 129.4 million (about US$178.7 million, or 75 percent of the Republic of Moldova’s quota). An amount equivalent to SDR 26 million (about US$35.9 million) was made available to the Moldovan authorities last November. The remaining amount will be phased in over the duration of the program.
