OREANDA-NEWS. May 23, 2008. Such hope was expressed by Graeme Justice at the press conference on the results of visit of IMF mission to Moldova.

The main objective of IMF mission was the fourth review within the frameworks of poverty reduction and growth facility mechanism (PRGF). The mission noted that the results of the programme remained positive. Prospects for economic growth in 2008 are encouraging, especially in case of the good harvest.

According to Justice, there is a big investment interest in Moldova. The biggest concern for investors is sector of services and agriculture. At the same time, the mission shares the concern of the Government of the influence of price increase for food and power resources on the country's economy. The mission also discussed measures for reduction of inflationary pressures on the economy and declining growing accounting deficit, which amounts to 17% of GDP. This is reflected in the updated Memorandum of Economic and Financial Policies (MEPF) for the remainder of 2008.

This agreement should be considered by the heads of IMF, after which it will be submitted to IMF executive directors. PRGF - IMF concessional lending mechanism for low-income countries.

Loans under PRGF are provided at an annual rate of 0,5% for 10 year-term and 5,5 years preferential period on the basic debt. The loan under PRGF for Moldova is about \\$ 174 million, of which about \\$ 124 million have been provided so far.