Moldovan parliament speaker, IMF mission discuss legislative priorities in improving banking system

Chisinau, 18 July /MOLDPRES/ - Parliament Speaker Andrian Candu and an experts mission of the International Monetary Fund, on a visit to Chisinau, today discussed legislative priorities in continuing the process of improving the banking system of Moldova, the parliament’s communication and public relations has reported.  

”We continue the implementation of reforms for improving the banking system, according to the priorities set with our development partners and the discussions with experts help us for a better implementation,” Andrian Candu said.

At the discussions, the speaker referred to the latest legislative amendments approved by the parliament. It is about the voting, in the first reading, of the law on bank’s work, which establishes the switch to the BASEL III principles through approximation with the European Union’s legislation. Adrian Candu also said that a string of actions for the modernization of the banking system were provided for also in the parliament-government action plan on the reforms’ agenda for the second half of 2017.    

In the context, the parliament speaker touched upon measures undertaken by the authorities to reduce the fiscal burden and enhance the attractiveness of the economy for foreign investors, including through reducing the number control institutions and permissive acts needed to do a business, as well as through simplifying the procedure of reporting of economic agents.  

For his part, the IMF mission head, Ben Kelmanson, encouraged the authorities to continue the implementation of the reforms agreed upon with the development partners, stressing that their good implementation was crucial for Moldova’s development. The official also said that the goal of the visit to Chisinau by the experts’ mission was to get information on the macroeconomic situation and developments recorded in the implementation of the reforms in the key sectors. According to the mission head, the second evaluation of the programme with IMF is planned for next autumn.   

A mission of the International Monetary Fund is on a working visit to Chisinau on 17-21 July.