March 30 (SeeNews) - The International Monetary Fund (IMF) said it is prepared to extend $117 million (106 million euro) in financing to Moldova to help the country limit the impact of the coronavirus outbreak on its economy.
"Financing under the RCF/RFI is subject to Executive Board approval and does not involve ex post conditionality or reviews. In case of Moldova, the blend RCF/RFI can support an outright financing of up to 86.25 million special drawing rights (equivalent to $117 million, or 50 percent of quota), paid out in an expedient manner," the IMF said in a press release on Friday.
An IMF mission led by Ruben Atoyan will hold discussions with Moldovan officials during March 30 – April 1 on economic policies appropriate for addressing the impact of the pandemic, the IMF added.
Last week, Atoyan said in an interview for Radio Free Europe that the international lender is prepared to extend $100 million in financing to Moldova to help it tackle the effects of the new coronavirus.
On March 11, the IMF said it is disbursing $20 million to Moldova under the current 40-month funding arrangements approved in November 2016.
The new disbursement came as a result of the progress Moldova has made in keeping its reform commitments and brings total disbursements under the arrangements to support the country’s economic and financial reform programme to about $178.7 million.
($ =0.9081 euro)