OREANDA-NEWS. July 19, 2011. This estimation was given by the Executive Board of the International Monetary Fund (IMF) that has completed the third reviews of Moldova's economic performance under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements that made an amount equivalent to SDR 50 million (about USD79 million) immediately available for the authorities.

According to the IMF, robust growth continued into 2011, spurred by brisk domestic demand and very strong exports. Core inflation remained contained, despite some pressure from higher energy prices on headline inflation. Moldova’s three-year IMF program, approved on January 29, 2010, stipulates financial support to Moldova in the total amount of USD 574 million, with USD 269 million of them already transferred in 2010 and 2011.

One half of the loan is provided under the Extended Credit Facility, which carries a zero interest rate until end-2011, a grace period of 5? years, and a 10-year maturity. The rest of the loan is provided under the Extended Fund Facility, which carries an annual interest rate equal to the SDR basic rate of charge (currently 1.27 percent), and is repayable over 10 years with a 4? -year grace period.