“We want a society that knows to correctly manage the resources and in which each person takes reasonable decisions about their financial resources,” the governor of the National Bank of Moldova Octavian Armașu stated in the National Financial Education Forum of the Republic of Moldova, which kicked off the working out of the National Financial Education Strategy, IPN reports.

The governor said that a strategy will systemize the actions of everyone, from the authorities up to the citizens, will institutionalize training in the financial sector, will permanentize discussions on financial issues so as to help the citizens manage the available incomes and make the economy stronger and more attractive for investments. The adjustment of the educational process to the current needs of target groups takes place permanently when the financial-banking products and services develop continuously. Financial education should be promoted so as to raise young people’s awareness of the main concepts and financial products.

In the same event, Prime Minister Dorin Recean underlined the importance of promoting financial education by all ways, starting from school. “Beyond the fact that financial education prevents fraud, helps families to ensure sustainable development, we must use financial education to train a section of entrepreneurs in society, which realizes very well what the resources mean and how they can be used in the most efficient way. This is not an easy task,” stated the Premier.

IMF Resident Representative in Moldova Rodgers Chawani said that the subject of investments and loans should be addressed in a judicious way. Financial literacy leads to good polices.

“We are now in the process of launching a financial education campaign in the Republic of Moldova. The given campaign will reach the lyceums and universities, the students. It is a key thing as they are the country’s future,” said Laura Hruby, Charge d’Affaires and Deputy Chief of Mission at the U.S. Embassy in Moldova. The campaign is aimed at those who are excluded from the financial system. These initiatives will help the citizens to fully benefit from the financial services and products existing on the market.

In the forum, the National Bank of Moldova and the Bank of Lithuania signed a Memorandum of Underusing. “The goal of the document is to further develop the general bilateral cooperation framework by exchanging information and experience in the areas of activity of the central banks,” stated Octavian Armașu. Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania, noted that the signing of the document marks the continuation of institutional cooperation. “This Memorandum of Understanding will help to combine knowledge, expertise and networks for the institutions to also extend the experience exchanges between the two countries,” he stated.

The forum was held as part of the Global Money Week 2023. So far, 176 countries joined this initiative, the Republic of Moldova being among the first participants.