Finances

EU WILL SUPPORT REFORMS IN MOLDOVAN BANKING SECTOR – PETER MICHALKO

01 july, 2020

The European Union is supporting the reform of the Moldovan banking system, which has softened up its negative impact in the conditions of a pandemic crisis, Ambassador Peter Michalko, the Head of the European Union Delegation to the Republic of Moldova, stated during his Tuesday’s meeting with President of the National Bank of Moldova Octavian Armasu.

The interlocutors discussed the evolution of macro-financial indicators, the banking sector’s activities and the measures the NBM is taking to mitigate the negative economic and social consequences caused by the COVID-19 spread.

Octavian Armasu highly appreciated the European Union’s support to Moldova in its struggle against the pandemic. He emphasized the value of this backing not solely in the financial but also in the social plane.

The NBM press release said that Ambassador Peter Michalko highly appreciated the progress achieved by the National Bank in reforming the country’s banking system. The diplomat stressed the necessity to continue reforms and emphasized the importance of preserving the NBM’s independence for ensuring the banking sector’s stability along with the country’s financial stability.

The interlocutors exchanged opinions about the realization of Moldova’s commitments stipulated in the EU-Moldova Association Agreement. In particular, they spoke about harmonization of the Moldovan legislation with EU norms and standards.

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