Moldova's subscription amount to International Monetary Fund goes up

Chisinau, Nov 13 /MOLDPRES/- Moldova's subscription amount to the International Monetary Fund (IMF) is increased from the current amount of 172.5 million special drawing rights (about 232 million dollars) to 258.8 million special drawing rights, which means an increase of about 114 million dollars. Government took the decision today, aimed at strengthening our country's financial position in the IMF.

The change comes after the IMF's Board of Governors approved at the end of last year the resolution on the sixteenth general review of IMF quotas, which provides for a 50 percent increase in the quotas of all 190 IMF member states.

Finance Minister Victoria Belous said at the cabinet meeting that among the benefits of this draft law is the strengthening of the country's financial position in the IMF, "which will increase the potential volume of IMF financial assistance available to Moldova". The financial means necessary in the context of the increased subscription amount are to be allocated by the National Bank of Moldova.

Currently, Moldova's quota in the IMF is 172.5 million Special Drawing Rights (SDRs) (about 232 million US dollars), equivalent to 0.04 percent of the total quota amount. The voting power of the Republic of Moldova in the IMF is 1973 votes, which is 0.08 percent of the total votes.

The Republic of Moldova became a member of the IMF in 1992.