Octavian Armașu: Moldova has strengthened its independence through national currency

“The Republic of Moldova has strengthened its independence together with the introduction of the national currency as the symbol of a new start. The Moldovan leu facilitated trade and the development of the financial market, integrated us into the global economy and allowed implementing a monetary and fiscal state policy that is vital for the stability of prices, for financial stability and economic growth. As the National Bank of Moldova could maintain its independence, Moldova today has a financial system that can resist crises, Octavian Armașu, the Governor of the National Bank of Moldova (NBM), stated in an official event held to commemorate the 30th anniversary of the introduction of the Moldovan leu, IPN reports.

The governor said that monetary independence and the national currency “are essential elements of our identity”. In 1991, the dream of a country that wanted to become a sovereign, independent and modern state came true. But without monetary independence, without an independent central bank and without a national currency, the Republic of Moldova’s story wouldn’t have been complete. “The national currency is not only a symbol of sovereignty and a means of transactions, but also a shield against global economic challenges and uncertainties, serving as a guarantee of our economic and social stability. To maintain this framework of stability in service to our citizens, it is crucial that all state authorities respect the independence of the mandates and missions for which we work every day,” stated Octavian Armașu.

Attending the event, Prime Minister Dorin Recean said that it is essential to mobilize and turn the national currency into a symbol of prosperity. “This way people will be proud of the Moldovan leu we celebrate today. We are a small country, but let’s have the courage to live in a big world. Let’s stop thinking and living small. Our physical boundaries must not constrain us, must not limit us. We enjoy this extraordinary openness on the part of so many friends here, close to us, and all over the world,” noted the official. “The government is promoting the digital agenda. I expect we will also have the digital Moldovan leu. We must work hard, grow the economy, increase productivity, build robust, efficient, and resilient institutions so that we can be competitive in a monetary union in the future.”

Paul Hilbers, Executive Director of the International Monetary Fund, said that the National Bank of Moldova covered a very long path from a difficult environment to a situation with a very strong national currency – the Moldovan leu. With these 30-year experiences, he is confident that the NBM can cope with all the challenges and can further develop the national currency and also the national financial system and national economy so as to ensure prosperity and very good results.

“The Moldovan leu has become a symbol of courage, strength, and pride,” Mugur Isărescu, the Governor of the National Bank of Romania, said in his message, noting that the National Bank of Moldova’s team distinguished itself owing to its remarkable team and an unwavering commitment to its fundamental objective . “The efforts of the successive leadership of the NBR and the entire team have contributed decisively to the transformation of the financial sector into a stable, efficient, and sustainable one, fulfilling the commitments undertaken by the Association Agreement between the Republic of Moldova and the European Union.”

Leonid Talmaci, the first Governor of the National Bank of Moldova, stated that in its 30 years of existence, the NBM had navigated through various, sometimes challenging periods, marked by both difficulties and successes achieved through hard work. “I wish the National Bank to successfully implement banking legislation harmonized with the highest European standards”, concluded the first Governor of the NBM.

On the occasion of the anniversary, five commemorative coins were issued, including two in gold and silver dedicated to the Moldovan leu, which was put into circulation on November 29. 1993.

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