The International Monetary Fund (IMF) approved a $46 million loan tranche for Moldova, pointing out that the country has made progress on its reform agenda, achieving macroeconomic stability. 

The IMF approved the $46 million credit installment on September 20, 2019, Reuters reported.

“The Moldovan authorities have taken decisive corrective measures to bring the Fund-supported program back on track and to achieve its objectives of ensuring macroeconomic stability and advancing reforms,” Mitsuhiro Furusawa, IMF Deputy Managing Director, said in a statement.

“Going forward, it is critical that the authorities continue to pursue prudent policies and structural reforms aimed at strengthening the financial sector, maintaining fiscal sustainability, and creating space for social and infrastructure spending,” Mitsuhiro Furusawa added. 

Previously, an IMF mission led by Ruben Atoyan paid an official visit to Chișinău on June 26 and July 10, 2019. During the visit, the IMF mission held talks with the authorities in order to revise the IMF-funded program under the Extended Fund Facility (ECF) and the Extended Financing Mechanism arrangements.

Back then, the IMF team promised to analyze recent economic developments and the progress achieved in program implementation and to update and assess the macroeconomic outlook, discussing macroeconomic policies from the upcoming period with the relevant authorities.

Following the discussions with representatives of the IMF, Moldovan Prime Minister Maia Sandu declared that the country will receive $46.5 million from the organization. The parties also agreed to extend the program of financial assistance to Moldova until March 2020. 

• Discussions between the Government and the IMF mission
• Moldova To Receive the $ 46.5 Million Tranche from the International Monetary Fund