{"id":236327,"date":"2005-10-03T10:47:00","date_gmt":"2005-10-03T10:47:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/10\/03\/chief-of-state-reproaches-banks-with-granting-credits-for-too-high-interest-rates-5003-eng\/"},"modified":"2005-10-03T10:47:00","modified_gmt":"2005-10-03T10:47:00","slug":"chief-of-state-reproaches-banks-with-granting-credits-for-too-high-interest-rates-5003-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/chief-of-state-reproaches-banks-with-granting-credits-for-too-high-interest-rates-5003-eng\/","title":{"rendered":"Chief of state reproaches banks with granting credits for too high interest rates"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The bank system in Moldova halts the economic development through introduction of too high interest rates on credits, President Vladimir Voronin told the forum Investment Climate in Moldova. In turn, bankers said that the state must ensure an economic growth for lower interest rates. <\/p>\n

"Certain bankers live very well with salaries of three million lei, applying too high interests," Voronin said. He noted that authorities "are able to search a big bank to come in Moldova and to apply a 5-percent interest." "Let’s see what our banks will do then with the 22-percent interest rate," the chief of state underlined. <\/p>\n

Premier Vasile Tarlev also demanded the reduction of interest rates on credits in lei down to 15 percent, and in currency down to 9 percent by end of this year. <\/p>\n

On the other hand, Natalia Vrabie, manager of Moldova-Agroindbank, said that the interest rates will unlikely be lowered so suddenly till late 2005. “Banks should enlarge their credit portfolios in order to reduce the interests. More enterprises must be created, while the state’s role in business development is essential now," Vrabie underlined. She suggested the state to improve the governing quality and to establish a communication culture with business circles. "Functionaries must help the creation of a business, not to restrict its registration."<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>The bank system in Moldova halts the economic development through introduction of too high interest rates on credits,<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-236327","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The bank system in Moldova halts the economic development through introduction of too high interest rates on credits, President Vladimir Voronin told the forum Investment Climate in Moldova. In turn, bankers said that the state must ensure an economic growth for lower interest rates. <\/p>\n

"Certain bankers live very well with salaries of three million lei, applying too high interests," Voronin said. He noted that authorities "are able to search a big bank to come in Moldova and to apply a 5-percent interest." "Let’s see what our banks will do then with the 22-percent interest rate," the chief of state underlined. <\/p>\n

Premier Vasile Tarlev also demanded the reduction of interest rates on credits in lei down to 15 percent, and in currency down to 9 percent by end of this year. <\/p>\n

On the other hand, Natalia Vrabie, manager of Moldova-Agroindbank, said that the interest rates will unlikely be lowered so suddenly till late 2005. “Banks should enlarge their credit portfolios in order to reduce the interests. More enterprises must be created, while the state’s role in business development is essential now," Vrabie underlined. She suggested the state to improve the governing quality and to establish a communication culture with business circles. "Functionaries must help the creation of a business, not to restrict its registration."<\/p>\n

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