The national currency will continue to depreciate despite the National Bank’s assurances that the leu will stabilize. Such conclusions were formulated in the talk show “Place for dialog” on the public radio station “Radio Moldova”, IPN reports.
Economic analyst Viorel Garbu said the situation is extremely difficult. “In a news conference, the representative of the National Bank spoke about the factors that led to the depreciation of the leu, namely the decline in exports and remittances and the psychological factor, but said nothing about the huge sum that was given to the three banks through which US$1 billion was stolen. The central bank does not have now reserves to stop the depreciation of the leu. The currency exchange facilities do not sell foreign currency now because this is not profitable for them as the next day the leu falls in value again,” he stated.
Political analyst Nicolae Chiroaca also considers the Moldovan leu will continue to depreciate. “The distortions in the Moldovan banking system have lasted for over 20 years. In the period, the situation when 70% of the consumer goods are imported hasn’t changed. The central bank allocated a huge sum from its foreign exchange reserves in order to cover the frauds committed at Banca de Economi, Banca Sociala, and Unibank so that the banking system does not collapse. But the currency market remained uncovered. It’s a pity that the Socialists were unable to profit from this situation to gain political benefits,” he said.
Within a telephone call, Socialist MP Ion Ceban criticized the authorities for not taking measures. “By the fraud committed at Banca de Economii, they stole 40% of the incomes of every citizen. Parliament should have debated this theme. A special commission should be constituted to investigate this case in concert with the law enforcement bodies,” he stated.
