Moldova to benefit form additional assistance on behalf of IMF to cover budget's needs

Chisinau, 8 November /MOLDPRES/ - Moldova will benefit from additional financial assistance on behalf of the International Monetary Fund (IMF). The financial resources will be provided through the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) and the money will be used to cover the state budget’s needs. The parliament approved draft laws providing for this.  

The state secretary at the Finance Ministry, Ion Gumene, unveiled the documents in the parliament’s plenum. He said that the increase in the support came, after the International Monetary Fund, following the last mission, found out that Moldova had made substantial progress.   

Thus, the sum of the local provided by IMF through EFF will be increased up to 94.3 million Special Drawing Rights (SDRs), the sum reaching 396,175,000 SDR. The money will be disbursed in 12 equal instalments, following the expiration of 4.5 years after each drawing made from the loan. The loan’s maturity will be of ten years and the interest will be floating.    

At the same time, the sum of the loan provided by IMF through the Extended Credit Facility will grow by 19.05 million Special Drawing Rights. Respectively, the final value will reach 198,087,500 SDR. The loan will be returned in ten equal installments, following the expiration of 5.5 years after each drawing made from the loan. The loan’s maturity will be of ten years and the interest will be established every two years and will be 0 per cent till 2025.