{"id":448166,"date":"2020-04-18T15:42:39","date_gmt":"2020-04-18T15:42:39","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=448166"},"modified":"2020-04-18T15:55:39","modified_gmt":"2020-04-18T15:55:39","slug":"the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/","title":{"rendered":"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Executive Board of the International Monetary Fund (IMF) approved a disbursement under the\u00a0Rapid Credit Facility (RCF)\u00a0of about $78.4 million and a purchase under the\u00a0Rapid Financing Instrument (RFI)\u00a0of about $156.7 million to meet Moldova\u2019s urgent financial needs amid the COVID-19 pandemic, is announced in a press release<\/a> published yesterday on the official page of the IMF permanent representative in Moldova.<\/p>\n

“The approval of Moldova\u2019s request will make available $235 million to the authorities to meet the urgent balance of payment needs stemming from the COVID-19 pandemic, help catalyse developmental partner support, and address imminent health system needs,”<\/em> is announced in the same press release.<\/p><\/blockquote>\n

According to the IMF Communications Department, the economic impact of the COVID-19 pandemic remains highly uncertain, while the country’s “macroeconomic outlook has deteriorated sharply, giving rise to an urgent balance of payments gap estimated at about $830 million.”<\/em><\/p>\n

“Real GDP is expected to fall and public finances are under significant pressure from declining tax revenues and emergency health and social spending. These developments and negative shocks to confidence, lower remittances inflows, and spillovers from global financial channels have created urgent balance of payments needs,”<\/em> claimed\u00a0Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, following the Executive Board discussion.<\/p>\n

The IMF officials evaluated the authorities’ response to the pandemic crisis as quick and comprehensive, including a national state of emergency, a travel ban, and a range of fiscal and prudential measures. “They imposed temporary economic activity restrictions to arrest coronavirus contagion, ramped-up spending on urgent healthcare needs, and introduced business support and social protection measures,”<\/em>\u00a0the measures taken by the Moldovan authorities being mentioned in the statement.<\/p>\n

“The National Bank of Moldova has been ensuring orderly exchange rate adjustment and liquidity provision. These measures should help contain the spread of the virus, support the health and social systems, and protect employment and viable businesses, while preserving macroeconomic and financial stability.”<\/p><\/blockquote>\n

In this regard, the IMF support aims to help finance the health and macroeconomic stabilisation measures, catalyse donor support, and shore up confidence in Moldova.<\/p>\n

At the same time, the IMF representative expressed its readiness to support Moldova in addressing\u00a0its immediate and medium-term policy challenges. “Beyond the immediate response, the authorities have reinforced their commitment to engage in a governance-focused arrangement with the Fund in the coming months,”<\/em> said the institution notice.<\/p>\n

Photo: seenews.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The Executive Board of the International Monetary Fund (IMF) approved a disbursement under the\u00a0Rapid Credit Facility (RCF)\u00a0of about $78.4 million and a purchase under the\u00a0Rapid Financing Instrument (RFI)\u00a0of about $156.7 million to meet Moldova\u2019s urgent financial needs amid the COVID-19 pandemic, is announced in a press release published yesterday on the official page of the […]<\/p>\n","protected":false},"author":31,"featured_media":448084,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6,3],"tags":[449,609,418,390,35,27,608,448],"class_list":["post-448166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-important-en","category-politics","tag-assistance","tag-coronavirus","tag-funds","tag-imf","tag-important","tag-moldova","tag-pandemic","tag-support"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Executive Board of the International Monetary Fund (IMF) approved a disbursement under the\u00a0Rapid Credit Facility (RCF)\u00a0of about $78.4 million and a purchase under the\u00a0Rapid Financing Instrument (RFI)\u00a0of about $156.7 million to meet Moldova\u2019s urgent financial needs amid the COVID-19 pandemic, is announced in a press release<\/a> published yesterday on the official page of the IMF permanent representative in Moldova.<\/p>\n

“The approval of Moldova\u2019s request will make available $235 million to the authorities to meet the urgent balance of payment needs stemming from the COVID-19 pandemic, help catalyse developmental partner support, and address imminent health system needs,”<\/em> is announced in the same press release.<\/p><\/blockquote>\n

According to the IMF Communications Department, the economic impact of the COVID-19 pandemic remains highly uncertain, while the country’s “macroeconomic outlook has deteriorated sharply, giving rise to an urgent balance of payments gap estimated at about $830 million.”<\/em><\/p>\n

“Real GDP is expected to fall and public finances are under significant pressure from declining tax revenues and emergency health and social spending. These developments and negative shocks to confidence, lower remittances inflows, and spillovers from global financial channels have created urgent balance of payments needs,”<\/em> claimed\u00a0Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, following the Executive Board discussion.<\/p>\n

The IMF officials evaluated the authorities’ response to the pandemic crisis as quick and comprehensive, including a national state of emergency, a travel ban, and a range of fiscal and prudential measures. “They imposed temporary economic activity restrictions to arrest coronavirus contagion, ramped-up spending on urgent healthcare needs, and introduced business support and social protection measures,”<\/em>\u00a0the measures taken by the Moldovan authorities being mentioned in the statement.<\/p>\n

“The National Bank of Moldova has been ensuring orderly exchange rate adjustment and liquidity provision. These measures should help contain the spread of the virus, support the health and social systems, and protect employment and viable businesses, while preserving macroeconomic and financial stability.”<\/p><\/blockquote>\n

In this regard, the IMF support aims to help finance the health and macroeconomic stabilisation measures, catalyse donor support, and shore up confidence in Moldova.<\/p>\n

At the same time, the IMF representative expressed its readiness to support Moldova in addressing\u00a0its immediate and medium-term policy challenges. “Beyond the immediate response, the authorities have reinforced their commitment to engage in a governance-focused arrangement with the Fund in the coming months,”<\/em> said the institution notice.<\/p>\n

Photo: seenews.com<\/p>\n

<\/div>
<\/div>
<\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/path><\/svg><\/span><\/a><\/div>
<\/div><\/div>
<\/div>","yoast_head":"\nThe IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic - Moldova.org<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maria Dulgher\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/\"},\"author\":{\"name\":\"Maria Dulgher\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\"},\"headline\":\"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic\",\"datePublished\":\"2020-04-18T15:42:39+00:00\",\"dateModified\":\"2020-04-18T15:55:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/\"},\"wordCount\":405,\"image\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/03\\\/imf.jpg\",\"keywords\":[\"Assistance\",\"coronavirus\",\"Funds\",\"imf\",\"Important\",\"Moldova\",\"pandemic\",\"Support\"],\"articleSection\":[\"Economy\",\"Important\",\"Politics\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/\",\"name\":\"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic - Moldova.org\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/03\\\/imf.jpg\",\"datePublished\":\"2020-04-18T15:42:39+00:00\",\"dateModified\":\"2020-04-18T15:55:39+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/03\\\/imf.jpg\",\"contentUrl\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/03\\\/imf.jpg\",\"width\":780,\"height\":490},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/\",\"name\":\"Moldova.org\",\"description\":\"The first news website of Moldova\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/4cd49a1f49c7d48a105c8a4cb7e3a2bf\",\"name\":\"Maria Dulgher\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g\",\"caption\":\"Maria Dulgher\"},\"description\":\"Jurnalist\u0103 that speaks English very well. De aia Maria are grij\u0103 c\u0103 prietenii no\u0219tri str\u0103ini s\u0103 nu piard\u0103 nicio informa\u021bie valoroas\u0103 despre actualitatea din Moldova.\",\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/mariuta.dulgher\",\"https:\\\/\\\/www.instagram.com\\\/marie.dulgher\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/maria-dulgher-4a9a2bb2\\\/\"],\"url\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/author\\\/mariadulgher\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic - Moldova.org","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/","twitter_misc":{"Written by":"Maria Dulgher","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#article","isPartOf":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/"},"author":{"name":"Maria Dulgher","@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf"},"headline":"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic","datePublished":"2020-04-18T15:42:39+00:00","dateModified":"2020-04-18T15:55:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/"},"wordCount":405,"image":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#primaryimage"},"thumbnailUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/03\/imf.jpg","keywords":["Assistance","coronavirus","Funds","imf","Important","Moldova","pandemic","Support"],"articleSection":["Economy","Important","Politics"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/","url":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/","name":"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic - Moldova.org","isPartOf":{"@id":"https:\/\/www.moldova.org\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#primaryimage"},"image":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#primaryimage"},"thumbnailUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/03\/imf.jpg","datePublished":"2020-04-18T15:42:39+00:00","dateModified":"2020-04-18T15:55:39+00:00","author":{"@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf"},"breadcrumb":{"@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#primaryimage","url":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/03\/imf.jpg","contentUrl":"https:\/\/www.moldova.org\/en\/wp-content\/uploads\/sites\/2\/2020\/03\/imf.jpg","width":780,"height":490},{"@type":"BreadcrumbList","@id":"https:\/\/www.moldova.org\/en\/the-imf-approved-235-million-as-emergency-assistance-to-moldova-to-address-the-covid-19-pandemic\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.moldova.org\/en\/"},{"@type":"ListItem","position":2,"name":"The IMF approved $235 million as emergency assistance to Moldova to address the COVID-19 pandemic"}]},{"@type":"WebSite","@id":"https:\/\/www.moldova.org\/en\/#website","url":"https:\/\/www.moldova.org\/en\/","name":"Moldova.org","description":"The first news website of Moldova","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.moldova.org\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.moldova.org\/en\/#\/schema\/person\/4cd49a1f49c7d48a105c8a4cb7e3a2bf","name":"Maria Dulgher","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/845882001991bde511a90853b5102f4286c0293237ace764fffc0d327a09702d?s=96&d=mm&r=g","caption":"Maria Dulgher"},"description":"Jurnalist\u0103 that speaks English very well. De aia Maria are grij\u0103 c\u0103 prietenii no\u0219tri str\u0103ini s\u0103 nu piard\u0103 nicio informa\u021bie valoroas\u0103 despre actualitatea din Moldova.","sameAs":["https:\/\/www.facebook.com\/mariuta.dulgher","https:\/\/www.instagram.com\/marie.dulgher\/","https:\/\/www.linkedin.com\/in\/maria-dulgher-4a9a2bb2\/"],"url":"https:\/\/www.moldova.org\/en\/author\/mariadulgher\/"}]}},"_links":{"self":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts\/448166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/comments?post=448166"}],"version-history":[{"count":0,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/posts\/448166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/media\/448084"}],"wp:attachment":[{"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/media?parent=448166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/categories?post=448166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moldova.org\/en\/wp-json\/wp\/v2\/tags?post=448166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}