Management of National Bank of Moldova participates in meeting of Club of Governors of central banks from region

Chisinau, 21 September /MOLDPRES/ - The management of the National Bank of Moldova (BNM), represented by BNM Governor Sergiu Cioclea and Deputy Governor Cristina Harea, have participated in the 40th meeting of the governors of central banks from the region of Balkans, Black Sea and Central Asia, held in Bucharest under the patronage of Governor of the National Bank of Romania Mugur Isarescu on 19-21 September.    

A press release by BNM reads that the meeting was focused on measures of monetary policy and financial stability in the present circumstances, dominated by the toughening of the monetary conditions in the developed countries and withdrawal of capital from the emerging markets. In particular, the governors stressed the tendency of increase in interests on the financial markets from the region and the currency volatility in more member countries of the Club.   

The heads of the central banks stressed the need to reduce the macroeconomic vulnerabilities, budgetary deficits and imbalances of the balance of payments, in order to prevent eventual effects of contagion. At the meeting, Sergiu Cioclea presented Moldova’s experience in the management and overcoming the financial and banking crisis from 2014-2015. “Presently, Moldova’s economy is more robust, thanks to the DCFTA agreement and reorientation of the foreign trade towards European Union’s markets,” the BNM governor said.  

A special session was focused on the promotion of new technologies in the sector of quick payments and the need to find solutions to allow their work for cross-border transactions.  

The meeting in Bucharest marked the 20th anniversary of the Club set up in 1998, which brings together the governors and representatives of the central banks from 26 member countries.

(Reporter V. Bercu, editor L. Alcaza)