The IMF Reacts to the Initiative of Cancelling the $1 Billion Law

The IMF Reacts to the Initiative of Cancelling the $1 Billion Law
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14 December 2020 | 06:31

The International Monetary Fund representative in Moldova, Rodgers Chawani considers that the Socialists’ initiative to cancel the billion law, which made the state repay the damage following the billion-dollar theft  “is a step back” in the banking sector reform.

Chawani made his statement for the Infotag agency after the parliamentary committee on economy, budget and finance accepted the Socialists’ approach. In Rodgers Chawani’s opinion, it is very important that all those hard-won gains that ensure the independence of the National Bank of Moldova (NBM) remain in force.

“These are very important elements to ensure the efficiency of the NBM in terms of financial and macroeconomic stability. The actions that lead to the undermining of the NBM’s independence and cancel the reforms supported by the IMF will affect the relations with Moldova”, consider the IMF representative.

The so-called billion law was approved in 2016 as a solution to provide financial assurance to the 3 banks involved in the fraud of 1 billion dollars.

AUTHOR MAIL eng.zdg@gmail.com

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