$1 billion cannot be siphoned out of Moldova in one day, Vadim Khramov, analyst at Bank of America Merrill Lynch, says in an article published on eureporter.co. Among the reasons invoked by the analyst is the lack of reaction from the Bank of New York, which admission any U.S. dollar transaction around the world, IPN reports.

“Whatever else may be the reasons for the decline of Moldova’s currency, but the withdrawal of $1 billion, announced by the government officials, from the state owned bank is simply not possible. This is not possible even in comparable countries like Georgia. The fact is that most of the former USSR countries have restrictions on single transactions above $150,000, which are subject to strict monitoring by government agencies in particular by the Central Bank,” said Vadim Khramov.

“If to take into account total GDP of Moldova $7.97bn and total national exports of just over $2bn, Moldova wouldn’t have been able to accumulate currency earnings of $1 billion quickly, or in one go. Instead, it would take months of methodically buying foreign currencies (while avoiding the $150,000 threshold) and an unrealistically high number of separate transactions – something like 667 transactions to send $100 million and 6,670 transactions to send $1bn. That just couldn’t have happened without someone long since blowing the whistle”.

One more important remark, first who would notice suspicious transactions would be the Bank of New York, which admission any U.S. dollar transaction around the world. This financial organization did not blow the whistle – so there were no transactions. Therefore there is only one deduction – the money was not withdrawn, said Vadim Khramov.

Recently, the special Parliamentary commission has finished its work resulting in suspension of the Central Bank vice governor and chairman of the Securities and Stock Market State Commission.

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Source: eureporter.co