More Moldovan business associations urge parliamentary political forces to immediately create new government

Chisinau, 9 July /MOLDPRES/ - Business associations urge the parliamentary factions to urgently designate a new government, which to be supported by the parliamentary majority, „in order to restore the political geo-economic stability aimed at speeding up the reform process,” according to a today press release.

„The most recent evolutions in Moldova have generated concerns among the business community and citizens of Moldova, which might lead to a long lasting recession, social tensions and mass emigrations,” business associations say. The entire business environment, either foreign investors or local companies, regardless of their size or sector they work, „faces an unprecedented incertitude as a result of absence of a stable government and incertitude in the banking sector”.

Entrepreneurs say that „the lack of transparency in shareholder structures and failure of the National Bank to ensure an efficient corporate organisation within banks are critical provocations for the banking sector, which today threaten the stability of the entire economy of Moldova”.

The National Bank of Moldova stagnated to ensure the integrity of banking sector, together with the significant involvement of “offshoring” into the shareholder structures of local commercial banks, which resulted in drawbacks in corporate management and distorting competitiveness, the communiqué reads. Despite last reforms, meant to fight money laundering, the state’s authorities failed to combat this phenomenon and the banking system continues to be favourable for such activities.

The business associations urge the parliamentary political parties to designate a new government, which to share the support of parliamentary majority and to offer it a mandate in order to reach an agreement with the International Monetary Fund (IMF). A new agreement with IMF „will not only improve the situation of public money, contributing to macroeconomic stability, but will also speed up the reform process, thus restoring confidence into a prosperous future of Moldova”.

The statement is signed by the European Business Association, Moldovan-American, Moldovan-Italian, Moldovan-German and Moldovan-French Chambers of Commerce.

(Reporter V. Bercu, Editor A. Raileanu)