{"id":442682,"date":"2016-10-10T21:28:57","date_gmt":"2016-10-10T21:28:57","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=442682"},"modified":"2016-10-10T21:28:57","modified_gmt":"2016-10-10T21:28:57","slug":"government-bonds-worth-133-billion-lei-transferred-national-bank-moldova","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/government-bonds-worth-133-billion-lei-transferred-national-bank-moldova\/","title":{"rendered":"Government bonds worth 13,3 billion lei transferred to the National Bank of Moldova"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On October 5th, the National Bank of Moldova announced<\/a> that government bonds in the total amount of 13,34 million lei had been issued and transferred to the National Bank on 4 October 2016.<\/p>\n

According to the central banking regulator, this is the amount of emergency loans granted by the central bank to \u201dBanca de Economii\u201d S.A., BC \u201dBanca Social\u0103\u201d S.A. and BC \u201dUnibank\u201d S.A., which have not been repaid on the date of the government bonds issuance. The issuing and transferring of government bonds was executed by complying to the law<\/a> on the issuance of government bonds for execution by the Ministry of Finance of the payment obligations derived from state guarantees no. 807 of 17 November 2014 and no. 101 of 1 April 2015, after it was published in the official monitor of Moldova. <\/p>\n

The amount was divided into 25 issuances of government bonds, with maturities from 1 to 25 years. The government bonds with maturities of 1-9 years have been issued with a fixed interest rate of 1,4% annually, while those with maturities of 10-25 years with a fixed interest rate of 5,3% annually. The interest will be paid semi-annually, excluding the interest for the first year of issuance, which will be paid at the end of the year. The National Bank took a 5% annual inflation rate into consideration to keep the value of debt in real terms.<\/p>\n

The civil society and economic experts highly criticized<\/a> the payment, demanding its cancelling and the finalization of the investigation of the banking frauds.
\nIt is still unclear why the Government has to transfer the money to the National Bank, a state institution, for some loans unpaid by private banks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>On October 5th, the National Bank of Moldova announced that government bonds in the total amount of 13,34 million lei had been issued and transferred to the National Bank on 4 October 2016. According to the central banking regulator, this is the amount of emergency loans granted by the central bank to \u201dBanca de Economii\u201d […]<\/p>\n","protected":false},"author":6,"featured_media":442683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6],"tags":[],"class_list":["post-442682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-important-en"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On October 5th, the National Bank of Moldova announced<\/a> that government bonds in the total amount of 13,34 million lei had been issued and transferred to the National Bank on 4 October 2016.<\/p>\n

According to the central banking regulator, this is the amount of emergency loans granted by the central bank to \u201dBanca de Economii\u201d S.A., BC \u201dBanca Social\u0103\u201d S.A. and BC \u201dUnibank\u201d S.A., which have not been repaid on the date of the government bonds issuance. The issuing and transferring of government bonds was executed by complying to the law<\/a> on the issuance of government bonds for execution by the Ministry of Finance of the payment obligations derived from state guarantees no. 807 of 17 November 2014 and no. 101 of 1 April 2015, after it was published in the official monitor of Moldova. <\/p>\n

The amount was divided into 25 issuances of government bonds, with maturities from 1 to 25 years. The government bonds with maturities of 1-9 years have been issued with a fixed interest rate of 1,4% annually, while those with maturities of 10-25 years with a fixed interest rate of 5,3% annually. The interest will be paid semi-annually, excluding the interest for the first year of issuance, which will be paid at the end of the year. The National Bank took a 5% annual inflation rate into consideration to keep the value of debt in real terms.<\/p>\n

The civil society and economic experts highly criticized<\/a> the payment, demanding its cancelling and the finalization of the investigation of the banking frauds.
\nIt is still unclear why the Government has to transfer the money to the National Bank, a state institution, for some loans unpaid by private banks.<\/p>\n

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