Legislative support for National Bank considered in meeting of Andrian Candu and IMF mission

The provision of legislative support for the good functioning of the National Bank of Moldova, including the intervention instruments needed to supervise the banking sector, was discussed in a meeting of Speaker of Parliament Andrian Candu and the team of IMF experts led by Ivanna Vladkova-Hollar, who are in Chisinau on a visit during May 23-27, IPN reports.

According to the legislature’s press service, among other subjects discussed were the legislative amendments concerning the method of challenging the actions and decisions of the National Bank of Moldova in court and the importance of a holistic approach for ensuring the country’s financial-banking stability. Andrian Candu and Ivanna Vladkova-Hollar also discussed the steps taken by the authorities, including the bills that are to be adopted by the end of the current session, related to the strategy for improving the situation in the financial-banking sector and such areas as justice, corruption fighting and energy.

Andrian Candu assured that the efforts of the Government and Parliament remain focused on the signing of a new program with the IMF and on the implementation of the reform agenda assumed before the people and the development partners of Moldova. “We are firmly decided to continue to do reforms, while the cooperation with the International Monetary Fund is very important for ensuring the sustainable macroeconomic development and the financial stability of the country. The presidential elections of this autumn are an important exercise for the country, but they will not affect the agenda of the Government and Parliament, which will continue to work to implement the commitments assumed by the roadmap for this year,” he stated.

For her part, Ivanna Vladkova-Hollar underlined the importance of improving the legal framework for dealing with deficiencies and excluding any interference in the execution of decisions concerning the surveillance and regulation of banks, ensuring of beneficial ownership transparency and establishment of risk management mechanisms by commercial banks. The IMF official reiterated the readiness to continue the dialogue with the Moldovan authorities, including on offering of technical expertise for supporting the economic growth and financial stability in Moldova.

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