The Republic of Moldova has increased its International Monetary Fund quota subscription by about US$114 million, from 172.5 to 258.8 million Special Drawing Rights. This is provided in a bill that was approved by the Cabinet on Wednesday, IPN reports.
"Among the benefits of this draft law is the strengthening of the country's financial position within the IMF. This will generate an increase in the potential volume of financial assistance available from the International Monetary Fund, from which the Republic of Moldova can benefit," said Minister of Finance Victoria Belous.
The position of governor of the Republic of Moldova within the IMF Board of Governors is held by the head of the National Bank of Moldova Anca Dragu. The financial means necessary for the increase are to be allocated by the NBM.
At present, the Republic of Moldova's IMF quota is SDR 172.5 million or about US$232 million, which is equivalent to 0.04 percent of the total quotas. The voting power of the Republic of Moldova in the IMF is 1973 votes, which constitutes 0.08 percent of the total votes.
The Republic of Moldova became a member of the International Monetary Fund on August 12, 1992.
