Moldova's quota in the IMF will be increased by 50% (about $114 million) - from 172.5 million to 258.8 million Special Drawing Rights
This is stipulated by the relevant draft law on increasing Moldova's quota in the International Monetary Fund, which was approved by the government on Wednesday. The document was elaborated by the National Bank of Moldova (NBM) and is promoted by the Finance Ministry in the context of the adoption by the IMF Board of Governors on December 15, 2023, of a resolution on the 16th general review of quotas and a 50% increase in the quotas of all 190 IMF member states. Currently, Moldova's quota in the IMF amounts to SDR 172.5 million, or 0.04% of the IMF capital. Finance Minister Victoria Belous said that, in the context of the decision of the IMF Board of Governors on a 50% increase in the IMF quotas, Moldova will increase its share in the IMF from the current SDR 172.5 million to SDR 258.8 million (+86.3 million SDR/approximately by $114 million). This will strengthen the country's financial position within the IMF and allow it to receive additional financial assistance if needed. The increase in Moldova's share will contribute to a more active and efficient activity of the IMF in achieving its objectives and, no less importantly, will increase the available volume of financial assistance that Moldova can receive. As the NBM notes, the IMF is an international organization whose objective is to promote international monetary cooperation, to contribute to the expansion and balanced growth of international trade, as well as to promote monetary stability. Moldova became a member of the IMF on August 12, 1992. The National Bank of Moldova, as the fiscal agent of Moldova within the IMF, is authorized to carry out on behalf of Moldova all operations and transactions on the basis of the IMF Articles of Agreement. Governor of the NBM is the Governor of Moldova in the IMF Board of Governors, while the First Vice-Governor of the NBM is the Deputy Governor. //13.11.2024 – InfoMarket
