OREANDA-NEWS. On July 16, 2008 The Executive Board of the International Monetary Fund (IMF) completed the fourth review of Moldova's performance under the three-year Poverty Reduction and Growth Facility (PRGF) programme.

The completion of the review enables the release of an amount equivalent to SDR 11,44 million (about US18,6 million), which will bring the total disbursements to Moldova under the PRGF arrangement to SDR 88 million (about US143 million).

The PRGF arrangement was approved on May 5, 2006. The means allocated will be used for the increase of the currency reserves of Moldova.

The main purpose of the loan is providing macroeconomic stability of Moldova. PGRF is the preferential loan mechanism of IMF for the low income countries.

The loans are provided under 0,5% p.a. repayable in 10 years and preferential term of 5,5 years. The total sum of the loan which can be received by Moldova makes about US 174 million.