An IMF mission headed by Clara Mira will visit Moldova on September 25 - October 6.
This was announced by the new permanent representative of the International Monetary Fund in Moldova, Svetlana Cerović. According to her, the IMF mission will hold discussions with the Moldovan authorities in line with Article 4 of the IMF's Agreement, taking into account the situation in 2023, as well as in the context of the fourth review of Moldova's ECF/EFF program, financed by the IMF through the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) and the authorities' request for support through the new Resilience and Sustainability Facility (RSF). The IMF mission will review recent economic developments and the authorities' progress in implementing the program, update data and assess the macroeconomic outlook, and discuss with the authorities policy priorities to address climate change vulnerabilities that could be supported by the IMF under the RSF program. As InfoMarket previously reported, the current 40-month program was approved by the IMF in December 2021, and in May 2022, total lending under it was increased to about $785 million, of which about $366 million has already been disbursed. Financing through the ECF is at a zero interest rate with a grace period of 5.5 years and a final maturity of 10 years, while financing through the EFF provides for an interest rate equal to the SDR base rate, a maturity of 10 years and a grace period of 4.5 years. Under Article 4 of the IMF Agreement, bilateral consultations with all member countries are held annually (normally). An IMF mission visits the country to collect economic and financial data and to discuss economic progress and policies with the authorities. Upon returning to headquarters, the staff writes a report, which is the main document submitted to the Executive Board for consideration. // 21.09.2023 - InfoMarket.
