IMF Approved Emergency Lending to Moldova of about 235 Million Dollars

The IMF Board of Directors approved on Friday, April 17, the allocation of an urgent loan for Moldova in the amount of about 235 million dollars. This was announced yesterday, March 17, at about 23:00 by Prime Minister Ion Chicu, zdg.md reports. “Together with the funds from the loan provided by the Russian Federation, the IMF loan will allow us to finance more than half of the budget deficit this year,” the prime minister said. The Prime Minister also wrote that the European Union is expected to decide on the distribution of macro-financial aid. “In addition, we expect the European Union to decide on the allocation of macro-financial assistance for the Republic of Moldova. A friend in need is a friend indeed,” Chicu added. Recall that on Friday, April 17, the Ambassador of the Republic of Moldova to the Russian Federation Andrei Neguta signed a loan agreement with the leadership of the Ministry of Finance of Russia, providing for a loan to Moldova in the amount of 200 million euros. On April 9, 2020, the Ministry of Foreign Affairs and European Integration announced that the EU will provide Moldova with 87 million euros to cover urgent needs and overcome the long-term effects of the epidemic crisis.