October 28 (SeeNews) - An International Monetary Fund (IMF) mission will arrive in Moldova on Monday for an update on the country's macroeconomic situation and for a second evaluation of the 40-month Extended Credit Facility (ECF) and Extended Fund Facility (EEF) programme, the IMF said.
The mission led by Ruben Atoyan will stay in Moldova until November 11, the IMF said in a press release on Thursday.
The IMF and local authorities will discuss mainly general aspects of the state budget for 2023 which is currently under elaboration, assess the country's macro-economic perspectives and risks.
In September, the IMF said it has unlocked $27 million (27.2 million euro) to Moldova under an extended credit facility in order to help the country cope with the impact of the war in Ukraine and surging international energy and food prices. The financing brought total disbursements under the extended programme to about $242 million.
In May, the IMF agreed to boost funding for Moldova by $267 million after the government requested it to review its funding agreement so that the arrangement reflects the new economic context. The extra funding represented an augmentation of the ECF and EFF arrangements made in December.
Earlier this month, the IMF estimated that Moldova's economy is expected to stagnate in 2022, revising its April forecast for 2% growth.
For 2023, the IMF expects Moldova's economic output to increase by 2.3%, it said in the October 2022 edition of its World Economic Outlook report.
($ = 1.0045 euro)