{"id":443207,"date":"2016-12-29T15:11:27","date_gmt":"2016-12-29T15:11:27","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=443207"},"modified":"2016-12-29T15:11:27","modified_gmt":"2016-12-29T15:11:27","slug":"moldova-pm-filip-payment-stolen-billion-necessary-get-external-financial-assistance","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-pm-filip-payment-stolen-billion-necessary-get-external-financial-assistance\/","title":{"rendered":"Moldova PM Filip: Payment of the “stolen billion” was necessary to get the external financial assistance"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

In response to the legislative initiative of the President Igor Dodon<\/a>, the Prime-Minister of Moldova, Pavel Filip, declared<\/a>\u00a0that the law on the payment of 13,5 billion lei to the National Bank for the loans unpaid by the failed banks is a consumed juridical act and should not be challenged.<\/p>\n

Filip thinks that the cancelling of the law and the payment would not cause juridical effects, since the transfer of money is already stipulated in the state budget. Moreover, the Constitutional Court reviewed the law and several appeals to it, but ultimately rejected them.<\/p>\n

PM Filip tells to the citizens to not be manipulated by the populist declarations of politicians:<\/p>\n

“I want to bring up an example, for the next year in the State Budget law we provided 650 million lei for the payment of this urgent loan. If we did not make this in 2016, we would have not obtained 60 million euros from Bucharest, 35 million US dollars from the International Monetary Fund, 45,3 million euros as grant from the European Union, which represents almost a billion lei, together with 45 million US dollars from the World Bank. This means, first of all, roads, kindergartens, schools and social projects for the citizens of the Republic of Moldova”<\/em>, stressed Filip.<\/p>\n

In the end, Filip mentioned that he would want cohabitation and a cooperation with the President Igor Dodon.<\/p>\n

On December 28th, Moldova\u2019s President Igor Dodon signed a legislative initiative on cancelling the law on the state obligations issued in November 2014 and April 2015 for the payment to the National Bank of Moldova of loans unpaid back by the three failed banks: Banca de Economii, Banca Social\u0103, Unibank. According to Dodon, the measure of reimbursing the \u201cstolen billions\u201d from the banking sector is putting a burden on the shoulders of the citizens.<\/p>\n

The controversial law, previously voted by the Government<\/a> and approved by ex-President Timofti<\/a>, includes a decision to transform the unpaid loans taken by Banca de Economii, Banca Social\u0103 and Unibank from the National Bank in 2014 into public debt. The payment of 13,5 billion lei would be made from the state budget during 25 years with a 5% interest rate, a sum which will obviously decrease the public expenditures in social and medical insurances system.<\/p>\n

The international financial institutions, such as the International Monetary Fund, the World Bank, but also the European Union, saw the law as a mean to \u201crestore\u201d trust of people in the banking system.
\nNevertheless, it still remains 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\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>In response to the legislative initiative of the President Igor Dodon, the Prime-Minister of Moldova, Pavel Filip, declared\u00a0that the law on the payment of 13,5 billion lei to the National Bank for the loans unpaid by the failed banks is a consumed juridical act and should not be challenged. Filip thinks that the cancelling of […]<\/p>\n","protected":false},"author":6,"featured_media":442085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-443207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

In response to the legislative initiative of the President Igor Dodon<\/a>, the Prime-Minister of Moldova, Pavel Filip, declared<\/a>\u00a0that the law on the payment of 13,5 billion lei to the National Bank for the loans unpaid by the failed banks is a consumed juridical act and should not be challenged.<\/p>\n

Filip thinks that the cancelling of the law and the payment would not cause juridical effects, since the transfer of money is already stipulated in the state budget. Moreover, the Constitutional Court reviewed the law and several appeals to it, but ultimately rejected them.<\/p>\n

PM Filip tells to the citizens to not be manipulated by the populist declarations of politicians:<\/p>\n

“I want to bring up an example, for the next year in the State Budget law we provided 650 million lei for the payment of this urgent loan. If we did not make this in 2016, we would have not obtained 60 million euros from Bucharest, 35 million US dollars from the International Monetary Fund, 45,3 million euros as grant from the European Union, which represents almost a billion lei, together with 45 million US dollars from the World Bank. This means, first of all, roads, kindergartens, schools and social projects for the citizens of the Republic of Moldova”<\/em>, stressed Filip.<\/p>\n

In the end, Filip mentioned that he would want cohabitation and a cooperation with the President Igor Dodon.<\/p>\n

On December 28th, Moldova\u2019s President Igor Dodon signed a legislative initiative on cancelling the law on the state obligations issued in November 2014 and April 2015 for the payment to the National Bank of Moldova of loans unpaid back by the three failed banks: Banca de Economii, Banca Social\u0103, Unibank. According to Dodon, the measure of reimbursing the \u201cstolen billions\u201d from the banking sector is putting a burden on the shoulders of the citizens.<\/p>\n

The controversial law, previously voted by the Government<\/a> and approved by ex-President Timofti<\/a>, includes a decision to transform the unpaid loans taken by Banca de Economii, Banca Social\u0103 and Unibank from the National Bank in 2014 into public debt. The payment of 13,5 billion lei would be made from the state budget during 25 years with a 5% interest rate, a sum which will obviously decrease the public expenditures in social and medical insurances system.<\/p>\n

The international financial institutions, such as the International Monetary Fund, the World Bank, but also the European Union, saw the law as a mean to \u201crestore\u201d trust of people in the banking system.
\nNevertheless, it still remains 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\n

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