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The mission of the International Monetary Fund, led by Ruben Atoyan, will visit Moldova from January 22 to February 5.

The mission of the International Monetary Fund, led by Ruben Atoyan, will visit Moldova from January 22 to February 5.

As noted in a statement to the press by IMF Resident Representative in Moldova Volodymyr Tulin, during the visit, the mission will hold discussions with the authorities in the context of preparing for consultations for 2020, in accordance with the provisions of Article 4 of the IMF Charter, as well as the sixth and final review of the Moldova program financed by the IMF through lending mechanisms ECF (Extended Credit Facility) and EFF (Extended Financing Facility). The IMF mission will analyze the latest economic events and the progress of the authorities in the implementation of the program, update the data and assess macroeconomic prospects, and also discuss with the authorities the problems and risks faced by the Moldovan economy in the medium term, as well as measures to solve them. The IMF’s three-year program with Moldova, approved on November 7, 2016, provides for financial assistance totaling about $ 182 million, of which about $ 160 million has already been received. Two-thirds of the loan are provided through the Extended Credit Facility (ECF), which provided for a zero interest rate until the end of 2018, a grace period of 5.5 years and a repayment term of 10 years. The remaining amount is provided through the Extended Financing Facility (EFF), which provides an interest rate equal to the SDR basic rate (currently 1.7% per annum), a maturity of 10 years and a grace period of 4.5 years. In accordance with 4 Art. of the IMF Charter, annually (as a rule), bilateral consultations are held with all member countries. The IMF mission comes to the country to collect economic and financial data and to discuss with the authorities economic progress and policies. Upon returning to headquarters, a report is written, which is the main document submitted to the Executive Board. //17.01.2020 — InfoMarket.

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