Moldovan Constitutional Court declares cancellation of so-called one-billion-dollar law unconstitutional

Chisinau, 18 March /MOLDPRES/ - The Constitutional Court (CCM) today declared the cancellation of the so-called ‘’one-billion-dollar law’’ unconstitutional.

The CCM judges today considered the constitutionality of the decision by the informal parliamentary majority Party of Socialists (PSRM) - Shor Party from 16 December 2020 on the cancellation of the law, under which the money stolen from the banking system in 2014 was turned into state debt and which was annually paid with interest to the National Bank of Moldova (BNM).     

The application on the verification of the constitutionality was submitted by MPs Andrian Candu and Vladimir Cebotari. The lawmakers said that this law had been cancelled by the parliament in an unjustified way and would have serious consequences on the Moldovan financial and banking sector.  

For their part, the BNM representatives said that the cancellation of the aforementioned law, proposed by the PSRM-Short Party majority, would strongly hit the banking sector and would trigger losses of several billion lei.   

The today’s ruling by the Constitutional Court cannot be subjected to any appeal.