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The World Bank expressed deep concern over the adoption by the Moldovan parliament of a number of laws that nullify the progress achieved in recent years.

The World Bank expressed deep concern over the adoption by the Moldovan parliament of a number of laws that nullify the progress achieved in recent years.

As noted in the statement of the World Bank office in Moldova, in particular, it is about the approval of many laws that will reverse the hard-won progress in recent years with regard to the sustainability and adequacy of pensions, the effectiveness of the asset declaration regime and personal interests in Moldova in order to end impunity for corruption offenses and ensure the sustainability of the financial sector. As noted in the WB statement, lowering the retirement age in Moldova will weaken the stability of the pension system and lead to a decrease in pensions for everyone, especially for women. Ultimately, this measure leaves fewer resources for priority spending on health, education and infrastructure. The WB emphasizes that amendments to the legislation on the declaration of assets and personal interests undermine the verification of declarations of assets and personal interests and make it almost impossible to impose disciplinary sanctions for violation of integrity. Thus, the key instrument for ensuring accountability for corruption has been significantly weakened. “Last but not least, the repeal of Law 235, also known as the“ Billion Law ”, raises concerns about the ability of the National Bank of Moldova to effectively maintain macroeconomic and financial stability, which is essential for the well-being of Moldovan citizens," mentioned in the statement of the World Bank office in our country. // 22.12.2020 — InfoMarket.

News on the subject

In the difficult crisis conditions caused by the pandemic, the banks of Moldova approved in 2020 deferred payments to legal entities on loans totaling over 4.8 billion lei, and to individuals - in the amount of almost 2.2 billion lei.
In the difficult crisis conditions caused by the pandemic, the banks of Moldova approved in 2020 deferred payments to legal entities on loans totaling over 4.8 billion lei, and to individuals - in the amount of almost 2.2 billion lei.
The abolition of the so-called “law on the billion” is a very alarming signal for the development partners, investors, jeopardizing the credibility of Moldova in its ability to comply with financial obligations - NBM.
The abolition of the so-called “law on the billion” is a very alarming signal for the development partners, investors, jeopardizing the credibility of Moldova in its ability to comply with financial obligations - NBM.
Moldova runs the risk of being left without a new agreement with the IMF and without external financing in general - Octavian Armasu said.
Moldova runs the risk of being left without a new agreement with the IMF and without external financing in general - Octavian Armasu said.
The National Bank of Moldova (NBM) recommended that commercial banks continue to refrain from paying dividends.
The National Bank of Moldova (NBM) recommended that commercial banks continue to refrain from paying dividends.
Net profit of the banking sector of Moldova for 9 months in 2020 amounted to 1 billion 151.3 million lei, having decreased by 35% (-619.7 million lei) compared to the same period in 2019.
Net profit of the banking sector of Moldova for 9 months in 2020 amounted to 1 billion 151.3 million lei, having decreased by 35% (-619.7 million lei) compared to the same period in 2019.
Moldova runs the risk of being left without a new program with the IMF due to political instability, and all politicians need to understand this and make efforts to put the interests of the country at the forefront - Octavian Armasu.
Moldova runs the risk of being left without a new program with the IMF due to political instability, and all politicians need to understand this and make efforts to put the interests of the country at the forefront - Octavian Armasu.