International Monetary Fund earmarks new installment worth 21.5 million dollars to Moldova

Chisinau, 2 May /MOLDPRES/- The IMF Executive Board has completed the first evaluation of Moldova Program and highly appreciated the achievements of the authorities. Thus, a new loan was approved for the country amounting to about 21.5 million dollars, the government’s communication and protocol department has reported.

According to the conclusions of the international financial organization, the program agreed between parties is implemented as planned, the economic growth has improved and the authorities are focused on sound management of economy. At the same time, the recovery in the financial-banking system continues, and the structural reforms are on the rise.

“The efforts contributed to strengthening financial stability and a recovery in economic growth was recorded. In 2017, 4.5 per cent-economic growth is forecast, so higher than previously predicted”, IMF experts said.

At the same time, the monetary policy is focused on maintaining price stability, while budget-fiscal policy aims at ensuring sustainability and creating the space needed to meet priority spending.

On 7 November 2016, the government and IMF signed a cooperation agreement for three years, supported by the Extended Credit Facility and Extended Fund Facility.  Moldova has received a credit line of about 179 million dollars, the first installment worth 35 million dollars being earmarked immediately after signing the agreement.