IMF's experts team comes to Moldova on working visit

Chisinau, 30 September /MOLDPRES/ - An experts team of the International Monetary Fund (IMF), led by Ruben Atoyan, will pay a working visit to Moldova on 2-8 October 2019.   

IMF Resident Representative in Moldova Volodymyr Tulin, in a press release spread today, said that “the goal of the mission is to update the information on the recent economic developments and to discuss policies promoted by the authorities, in order to maintain the macroeconomic, budgetary and fiscal stability, including in the context of the State Budget for 2020.”     

Such working visits, outside the standard cycle of programme evaluations, are part of the IMF’s usual practice, when it is about the countries having programmes supported by the Fund. Traditionally, the experts will have meeting at the government, Finance Ministry, National Bank of Moldova, Economics and Infrastructure Ministry and other governmental institutions.  

The last visit by the IMF’s experts team, led by Ruben Atoyan, paid a visit to Chisinau on 26 June – 10 July 2019, in order to hold discussions with the authorities, in the context of evaluation of the programme backed by IMF through the Extended Credit Facility (ECF) and Extended Fund Facility (EFF). The mission analyzed the recent developments in the economy and the progress made in the programme’s implementation.    

As a result of the last summer mission, the Board of Directors of the International Monetary Fund on 20 September finished the fourth and fifth evaluations of the programme with Moldova, through the Extended Credit Facility. Thus, Moldova can access the overall sum of 33.6 million Special Drawing Rights, which is equivalent to 46.1 million dollars.     

The Board of Directors also approved the Moldovan authorities’ request to extend the duration of the programme till 20 March 2020 and change the schedule of disbursement, in order to allow successfully finishing the programme.  

The ECF/EFF programme, worth 129.4 million Special Drawing Rights (about 178.7 million dollars or 75 per cent of Moldova’s quota at IMF) was approved on 7 November 2016, of which about 158 million dollars has been already provided.