International Monetary Fund approves new funding tranche for Moldova

Chisinau, 30 June /MOLDPRES/ – Moldova is to receive the third tranche of almost $34 million from the International Monetary Fund (IMF). The decision was approved on Friday evening, 29 June, by IMF Board of Executive Directors, the government's communication and protocol department has reported.

The amount of $22.5 million is already in the accounts of the National Bank of Moldova (BNM). Additional $11.25 million will reach Moldova upcoming week.

Prime Minister, Pavel Filip, mentioned that allocation of a new tranche of IMF assistance is recognition of the Government's efforts to meet the commitments made within IMF Agreement and agreed reforms. The Premier thanked the IMF experts for their good cooperation with Moldovan authorities, reiterating the determination of the Government to complete the reforms which began, the results of which would be felt directly by citizens.

On 07 November 2016, the IMF Board of Executive Directors approved a three – year agreement with Moldova, funded by two loan instruments – Enhanced Financing Facility (EFF) and Extended Credit Facility (ECF), which aims to support Moldova's economic and financial reform programme. Thus, Moldova received access to a total of 129.4 million special drawing rights or around $178.7.