IMF mission to visit Moldova from Oct 31 to Nov 11

CHISINAU (Reuters) – A mission of the International Monetary Fund will visit Moldova from Oct. 31 to Nov. 11 to discuss the country’s 2023 budget, its implementation of existing pledges, and the economic risks it faces, the fund said on Friday.

The IMF announced last month a loan of $27 million to help the small former Soviet republic with the impact of the war in neighbouring Ukraine and rising food and energy prices.

That sum is part of a larger $800 million package agreed in May tied to improvements in Moldova’s fiscal governance, implementation of anti-corruption reforms and other measures.

The IMF said in September that despite the impact from Russia’s invasion of Ukraine and the surging costs that will continue to see its Moldovan economy stagnate in the near term, the pro-Western government has made progress in reforms.

Moldova expects zero economic growth this year and inflation of nearly 30%. Last year the economy grew by almost 14%.

The country of 2.6 million lies between Ukraine and Romania and has seen thousands of Ukrainian refugees make it their home since Russia invaded Ukraine on Feb. 24.

In June, Moldova was granted candidate status for European Union membership.

(Reporting by Alexander Tanas; Writing by Gareth Jones; Editing by Andrew Cawthorne)