The IMF singled out Moldova loans by $574 million
January 31, 2010 – 3:35 amthe International Monetary Fund Moldova approximately $574 million in loans aimed at supporting the Government’s anti-crisis program, reports BBC News.
As stated in the report the IMF, the two equal-sized loan aimed at “supporting the country’s economic program to restore fiscal and external sustainability, maintaining financial stability, poverty reduction and higher growth.”
One of the two loans is designed for extremely poor countries-members of the IMF and the interest on it will not accrue until 2011. The second loan, low interest, calculated at 10 years, with the first 4.5 years will be required to pay only interest, but not the body of the loan.
Moldovan authorities immediately be able to avail itself of the $93.2 million, with the remaining money will be allocated in tranches over three years, depending on the results of the IMF’s semi-annual inspections.
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