The World Bank and the US Embassy Criticize the Disputed Draft Laws

The World Bank and the US Embassy Criticize the Disputed Draft Laws
by
23 December 2020 | 04:01

The World Bank and the US Embassy in Moldova are worried about the parliament’s new draft laws voted by the Socialist-Shor majority.

The World Bank in Moldova refers specifically to three draft laws: reduction of the retirement age, amendments to the law on the National Integrity Authority, and the law referring to the one billion dollar bank fraud. The Institution claims that it “reverses the progress made in recent years in terms of sustainability and adequacy of pensions, the effectiveness of the regime for declaring assets, the impunity of corruption acts, and in the financial sector.”

“Reducing the retirement age will affect the pension system sustainability and result in lower pensions for all, especially women. Finally, this measure leaves fewer resources for priority spending on health, education, and infrastructure. The Law on the National Integrity Authority on the declaration of assets and personal interests undermines the verification of declarations of assets and personal interests and makes it almost impossible to impose disciplinary sanctions for breach of integrity. Thus, a key instrument for ensuring responsibility for corruption has been substantially weakened. The repeal of the law referring to the billion-dollar bank fraud raises concerns about the National Bank of Moldova’s ability to effectively support macroeconomic and financial stability, which is essential for the well-being of Moldovan citizens.”

The US Embassy in Chișinău posted an informative note stating that it shares the concerns expressed by the International Monetary Fund, the World Bank, and other organizations regarding the adoption by Parliament of several laws voted by the Socialist-Shor majority.

“The United States shares the concerns expressed by the International Monetary Fund, the World Bank, and other organizations about the recent actions promoted in the Parliament of Moldova,” the Embassy note said.

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