International Monetary Fund (IMF) staff and the Republic of Moldova authorities have reached staff-level agreements on policies for completion of the fourth review under the Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangements and on a new Resilience and Sustainability Facility (RSF) arrangement. The agreement is subject to approval by the IMF’s Management and Executive Board. 

Completing the review will make SDR 70.95 million (about $92 million) available, bringing total disbursements under the program to about $461.3 million.

According to IMF, program implementation remains generally strong, and the authorities met all end-June quantitative performance criteria. Structural reforms are also advancing, including in fiscal governance and financial sector oversight.

A 22-month RSF arrangement of SDR 129.375 million (about $169 million) is expected to support the authorities in advancing their ambitious agenda to address climate challenges. The RSF will focus on improving the legal, institutional and financial environment to accelerate climate action (including climate-smart infrastructure and energy sector policies) and mobilize green financing.
Note: The discussions between IMF experts and Moldovan authorities, including the Minister of Finance, for the fourth review of Moldova’s program under the ECF and EFF arrangements were conducted during September 25-October 16, during the IMF mission in Chisinau.

Source: International Monetary Fund