The National Bank of Moldova (NBM) welcomes the adoption by the European Council of the decision by which the Republic of Moldova was granted the EU candidate status. It notes that it is determined to further make effort to effectively contribute to the achievement of the national priority of European integration of the Republic of Moldova, IPN reports.
“A huge leap in the European course of our country was made last night. I am glad that the European Union gave this vote of confidence to the Republic of Moldova. It is a vote that makes us understand that we need to work even harder, to drive the process of development and modernization and to bring innovations to our country. The NBM has managed the past few years to strengthen its capacity and bring the banking sector closer to EU standards. We will continue to enhance the stability and functioning of the banking sector, and to strengthen its credibility,” said NBM Governor Octavian Armașu.
In the immediate period, the NBM will concentrate its efforts on maintaining macroeconomic stability and strengthening the financial sector, including by further harmonizing financial legislation with EU rules. On this European path, the NBM benefits from the constant and valuable support of its EU partners.
“The ensuring of a functioning market economy and the ability to cope with competitive pressure on the EU market are among the main economic conditions that a candidate country must meet. The capacity to assume the obligations of EU membership, including adherence to the objectives of political, economic, and monetary union, is another condition. It is also necessary for the candidate country to adopt the EU acquis and ensure its effective implementation through appropriate administrative and judicial structures,” runs the central bank’s press release.
Therefore, the NBM actively participates in the development and maintenance of a strong, stable, and competitive financial and banking sector that can contribute to the development of a functioning market economy - an essential factor on path of European integration.
On 23 June 2022, the European Council recognized the European perspective of the Republic of Moldova, as well as that of Georgia and Ukraine, emphasizing that the future of these countries and their citizens lies within the EU. At the same time, the European Council decided to grant the Republic of Moldova and Ukraine the EU candidate status. In this connection, the European Council noted that each country’s progress towards the EU will depend on their own merits in the fulfillment of the Copenhagen criteria, considering the EU’s ability to absorb new members.
