The tenure of the National Bank governor Sergiu Cioclea, who tendered his resignation, was a success as he managed to stabilize the banking sector. Such assessments were made by Speaker of Parliament Andrian Candu and Prime Minister Pavel Filip, IPN reports.

On a social networking site, Andrian Candu wrote that since 2016, when Sergiu Cioclea was chosen governor, the banking system has developed and become more stable and there is now modern legislation that helps to further strengthen the achieved results. The interest rates fell to a historical low, the national currency is stable and the banking sector attracted important foreign investment.

The Speaker said he would like more Moldovans who developed professionally abroad to return and help the country this way. He assured he will make sure the next governor of the central bank meets the high standards set by Sergiu Cioclea and his team.

Pavel Filip said Sergiu Cioclea had the courage to take up the post of governor in a difficult moment, when the banking sector needed a profound reform. He appreciated the professionalism shown by the governor in the relations with the IMF and other international partners. “I appreciate the fact that he made personal sacrifices to return to the Republic of Moldova for a period and contributed to reforming this sector. Together we brought things in the banking system in order and today, owing to him too, we now have a healthy system and important foreign investment,” the Premier wrote on his Facebook page.

In a press briefing on November 20, Sergiu Cioclea announced his resignation from the post of governor of the National Bank of Moldova as of November 30, 2018. He noted the tasks he undertook when he took up the post of governor were achieved. The banking system is now solid and this is confirmed not only by the unprecedented levels of foreign investment, but also by the assessments carried out by the International Monetary Fund, the World Bank and the European Commission.