A number of international business associations call on the parliamentary political parties to appoint a new Government that enjoys majority support in Parliament as soon as possible in order to restore political and macroeconomic stability and accelerate the reform process, and to give this new Government a mandate to reach a comprehensive agreement with the IMF, IPN reports, quoting a statement issued by the associations.

The statement says the latest developments in the country raise many concerns in the business community and among Moldova’s citizens, which can lead to a prolonged recession, social tensions and accelerated emigration. Entrepreneurs, investors, businesses from all sectors, regardless of their size, are facing an unprecedented degree of uncertainty, created by the absence of a stable government, by the questionable viability of numerous Moldovan banks.

“The National Bank delayed action on ensuring the integrity of the banking sector joined with the high degree of ‘offshoring’ of the shareholding structures of local commercial banks leads to deficiencies in corporate governance, unethical business practices and distortion of competition. Despite the recent reforms, aimed at counteracting money laundering, local authorities fail to combat this phenomenon, and the banking system remains attractive for this type of activities,” reads the statement.

The statement was signed by the European Business Association, AMCHAM Moldova, Italy-Moldova Chamber of Commerce, France-Moldova Chamber of Commerce and Industry, and the Moldovan-German Economic Cooperation Association.