The authorities will do their utmost to modernize and stabilize the banking system in Moldova and will investigate all frauds and punish those responsible, stated outgoing Minister of Economy Andrian Candu in a joint press conference with the head of the EU Delegation to Moldova Pirkka Tapiola, IPN reports.
Candu commented on a recent report of the International Monetary Fund, which highlighted IMF's concerns about the situation in the Moldovan banking system, especially regarding the cases of Banca de Economii and Banca Sociala. “The Moldovan banking system isn't the best one. There are problems that are known not only by the EU and the IMF, but by all of us. Over the past six months, serious efforts were made to improve the legislation concerning the National Bank's institutional capacity and legal interventions. We know what the problems are, we know they are urgent and we know that we must take measures”, said Candu.
He reassured that one of the priorities of the next Cabinet will be the banking system. “During negotiations with the IMF and the World Bank we agreed that the first topic in the next program with the IMF will be the banking system. Here we speak about the transparency of ownership, corporative policies and the financial and technical capacities of some banks. The most important is that we have the will to do it and we have no more excuses. It's not only the IMF, the EU or the World Bank that are interested in modernizing our banking system. We are just as interested”, said the official.
Candu opts for the investigation of all frauds and the punishment of all the responsible people. “People should know that we have three goals: 1- regardless of what happens, the depositors must not suffer; 2- if there are frauds, the money must be recovered; and 3- those guilty of frauds must be punished. Metaphorically speaking: there will be blood if needed. We'll certainly do it. If there are frauds within some banks, they will be investigated and the guilty will be punished. We aren't talking only about national investigations, we're speaking of international ones”, said Candu.
The outgoing minister also spoke about the oil prices that in Moldova didn't drop as much as on the international markets. He explained that some importers buys the oil in advance for several weeks and thus the daily price might not reflect international trends. However, he also admitted that the law is flawed and must be improved.
“In 2015, we have to amend the legislation. We should have a more fundamental approach. I've asked my colleagues at the Ministry of Economy to prepare amendments to the Law on oil products in order to have a new regulation and to have more state control when the difference between domestic and international oil prices is too high. I'm tired of talking to the oil importers, because this is the only legal tool. I have to talk to them so that on one hand, they can keep running a profitable business, and on the hand, people will pay normal prices”, explained Candu.
He announced that over the next days fuel prices in Moldova will decrease by up to 1.5 lei per liter. “Today I was told that tomorrow and over the next days the retail prices for oil will drop. I learned prices may go down by 1.5 lei. Still, I'm not satisfied”, said Candu.
The official also announced that on Monday, a contract will be signed for gas supply from Romania via the Iasi-Ungheni pipe, beginning on January 1, 2015, at a price of 277 dollars, which is 20% cheaper than the Russian gas.
