The Government of Moldova bears a part of the blame for the theft committed in the banking sector. The issue was discussed in the talk show “Place for dialogue” on the public station Radio Moldova, IPN reports.

Economic expert Viorel Garbu said the Government is to blame for the theft of the billion because it covered the losses sustained by Banca de Economii with money borrowed from the National Bank. “They acted concertedly. Considerable resources were accumulated in several banks and then loans were released illegally. The Government covered these gasp with loans taken out from the central bank,” he stated.

The expert criticized the previous governments for their inability to put the external financing to good use. “In 2009-2010, the external financing could total €500 million a year, but the then government was unable to use more than €100 million annually. Even the Communist government that ruled until 2009 could put €200 million annually to good use, despite all its shortcomings,” said Viorel Garbu.  

Director of the Market Economy Institute Roman Chirca considers the Government contributed to the theft of the billion by three ways. “Firstly, the Government hid the problems faced at Banca de Economii. Secondly, a part of the shares in this bank were sold. Thirdly, those letters of guarantee were signed by which loans were raised from the National Bank of Moldova to cover the losses sustained by Banca de Economii. The operations were performed in secret and this increased the people’s dissatisfaction,” he stated.