Moldovan parliament approves draft laws for additional financial assistance on behalf of IMF

16:45 | 21.11.2024 Category: Economic

Chisinau, 21 November /MOLDPRES/ - The International Monetary Fund (IMF) will provide Moldova with additional financial assistance. 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 needs of the state budget. The parliament approved the draft laws to this end in the second reading today.

Thus, the sum of the loan provided by IMF through EFF will be increased by 94.3 million Special Drawing Rights (SDR), with the final sum reaching 396, 175,000 SDR. The money will be disbursed in 12 equal installments, following the expiration of 4.5 years after each drawing made at the expense of the loan. The maturity of the loan will be of ten years and the interest imposed will be floating.

At the same time, the sum of the loan provided by IMF through the ECF will be increased by 19.05 million SDR. Respectively, the final value will reach198, 087, 500 SDR. The loan will be reimbursed in ten equal installments, following the expiration of 5.5 years after each drawing made at the expense of the loan. The maturity of the loan will be of ten years and the interest will be established every two years and will be 0 per cent till 30 April 2025.

Also, at the today’s plenary meeting, the MPs voted, in the first reading, the draft law which envisages the increase in Moldova’s share at the International Monetary Fund. Thus, in the context of the decision by the IMF Board of Governors on the increase in the shares for all 190 member states, they propose the increase in Moldova’s subscription sum from 172.5 million Special Drawing Rights to 258.8 million SDR.

According to the authorities, this will result in the strengthening of Moldova’s financial position within IMF and the opportunity to win additional financial support, if necessary. Also, the goal is to increase the available volume of financial assistance from which Moldova can benefit.

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