The Constitutional Court (CC) urged the Parliament to amend the legislation on granting state loans and money issuance.
This recommendation is contained in the materials of the CC regarding the examination of the request of a group of PSRM MPs to control the constitutionality of the law on issuing state bonds in the Ministry of Finance’s execution of payment obligations arising from state guarantees of November 17, 2014 and April 1, 2015. The CC urged the Parliament to amend the legislation so that the possible issuance of money by the National Bank would comply with the provisions of Art. 130 p. (3) of the Constitution, which provides that the exclusive right to issue banknotes belongs to the National Bank of Moldova, but the issuance is subject to a decision of Parliament. Also, the CC recommends the Parliament to amend the legislation in order to ensure the effectiveness of the powers of the Parliament provided for in art. 66 (i), according to which the Parliament controls the granting of state loans, economic and other assistance to other states, concluding agreements on state loans and credits from foreign sources. The CC found that first the National Bank issued national currency totaling 9.5 billion lei and later 5.3 billion lei without any decision of the Parliament. And the executive authorities (Government, Ministry of Finance, and National Bank) provided state guarantees and state loans without "the Parliament’s control of state loans ", according to its prerogative established in Article 66 (i) of the Constitution. The CC believes that, in a state governed by the rule of law, the state authorities must exercise their powers in the manner prescribed by Article 6 of the Constitution, i.e. by respecting the principle of separation and cooperation of powers within the state. The Court recalled that the purpose of any parliamentary control is to verify the acts and actions of representatives of the executive power in terms of compliance with the law, observance of rights and freedoms, as well as observance of the general interests of society. Thus, the Parliament must ensure the effectiveness of the task provided for in Article 66 (i) of the Constitution. In this light, the CC will request the Parliament to intervene by law and to remedy the mentioned gaps. At the same time, based on the above-mentioned facts, the CC finds that the complaint of PSRM MPs does not meet the conditions of admissibility and cannot be accepted for examination on the merits. // 26.04.2022 - InfoMarket
