Prime Minister Dorin Recean, at a meeting with the IMF Mission led by Clara Mira, discussed the implementation of the program with the fund, the implementation of reforms and progress in the economic development of Moldova.
This was reported by the government's press service, noting that experts from the International Monetary Fund Mission will be in Chisinau from April 22 to May 2 to conduct the 5th review of the ECF/EFF program for Moldova, financed by the IMF through the Extended Credit Facility/Extended Fund Facility (ECF/EFF), and the first review of the IMF-financed program through the Resilience and Sustainability Facility (RSF). The IMF mission will also analyze recent economic developments and progress made by the authorities in implementing the program, update data and assess the macroeconomic outlook. During discussions with experts from the IMF Mission, Dorin Recean noted the government’s main priorities, including restarting the economy and improving the investment climate, paying particular attention to ensuring security and predictability for businessmen who want to invest in Moldova. The Prime Minister also spoke about our country’s European agenda, the fight against corruption and the progress of reforms launched in the justice sector. According to him, the continuation of reforms in the field of justice will ensure the sustainability of the authorities’ actions in all other areas and create the necessary conditions for business development, increasing the investment attractiveness of our country, as well as strengthening energy security. The parties also discussed fiscal policy, consolidation of the banking system and effective and transparent management of public finances. In the coming days, the IMF mission will analyze the latest developments in the economy and the progress made in implementing the authorities' program, and will also update data, assessing the prospects at the macroeconomic level. As InfoMarket previously reported, the 40-month ECF/EFF program for Moldova was approved by the IMF in December 2021, and in May 2022, the total lending volume was increased to approximately $783 million, of which about $459 million had already been transferred. In addition, the RSF program was approved in December 2023, with funding of approximately $170 million. ECF financing carries a zero interest rate with a grace period of 5.5 years and a final maturity of 10 years, while EFF financing provides an interest rate equal to the base SDR (Special Drawing Rights) rate, a repayment period of 10 years and a grace period of 4.5 years. RSF financing has a repayment term of 20 years and a grace period of 10.5 years during which the principal amount of the loan is not repaid.// 22.04.2024 — InfoMarket.
