The Government didn’t support President Igor Dodon’s legislative initiative to abrogate the law that enables to transform the guarantees provided by the state to the National Bank of Moldova, for the emergency loan released to three banks, into public debt, IPN reports.

In the February 15 meeting, it was reiterated that the law produced legal effects and these cannot be annulled, while the state bonds issued by the Ministry of Finance, to the value of 13 million lei, were transmitted to the National Bank.

“The non-fulfillment of the obligations deriving from these guarantees, regardless of the reasons, would mean the technical default of the state and assumption of a number of serious consequences such as blocking of external financing by the development partners, donors and international financial institutions and worsening of the country rating,” said Minister of Finance Octavian Armasu.

President Igor Dodon repeatedly said he would not withdraw the initiative to repeal this law and asks for a nominal vote on it in Parliament.