Moldova faced very harsh monetary conditions with very high interest rates because attempts were made to adjust the economy to the ‘theft of the century’, World Bank Country Manager for Moldova Alexander Kremer stated in an interview for Radio Free Europe. He urged the authorities to do their utmost to restore the confidence of the investors and business community, but first of all of the people in the state institutions, IPN reports.

The official noted that it is important to hold accountable the persons who are responsible for the bank fraud committed in 2013-2014. “I do not refer here to the ‘small fish’, but to even those large involved. It is very important to get rid of this impression concerning the impunity in the case of this theft of the century. If somebody robbed the banking system and remained unpunished, this way we send the message that you can rob a bank in his country and can remain unpunished,” stated Alexander Kremer.

According to the World Bank Country Manager for Moldova, the causes that led to the fraud or made it possible for this to be committed at the three banks - Banca de Economii, Unibank and Banca Sociala – are still present in the country. The key task of the National Bank now is to identify the final beneficiaries of the banks so as to avoid and control lending to affiliated persons.

Alexander Kremer also said that all the taxpayers of the country will have to pay the guarantee asked by the National Bank of Moldova from the Government, including the children who were only born. When these turn 20 and will be taxpayers too, they will have to continue to pay this debt. This is a burden for the budget and the people of Moldova for many years ahead.