{"id":448080,"date":"2020-03-11T21:12:04","date_gmt":"2020-03-11T21:12:04","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=448080"},"modified":"2020-03-11T21:16:23","modified_gmt":"2020-03-11T21:16:23","slug":"its-official-the-nbm-must-redirect-its-profits-to-pay-back-a-part-of-the-stolen-billion","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/its-official-the-nbm-must-redirect-its-profits-to-pay-back-a-part-of-the-stolen-billion\/","title":{"rendered":"It’s official: the NBM must redirect its profits to pay back a part of the stolen billion"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

Even though the measure was criticized by the experts and political opposition, MPs still voted the mechanism previously proposed by President Igor Dodon, according to which a part of the stolen billion from the Moldovan banking system will be refunded by redirecting the annual profits of the National Bank of Moldova (NBM).<\/p>\n

Read more about the legislative measure in the article “Who is going to pay back the stolen billion? President Dodon proposed a new legislative measure”<\/span><\/em><\/a><\/p>\n

The mechanism provides for allocating the NBM profit available for distribution to the state budget revenue as following:<\/p>\n

if the statutory capital constitutes less than 4.0% of the total monetary obligations of the National Bank, the profit available for distribution will be allocated entirely to increase the statutory capital of the institution. If the statutory capital constitutes from 4.0% to 10.0%, out of the total monetary obligations of the National Bank, 50%<\/span><\/strong> of the profit available for distribution will be allocated to the increase of the statutory capital, and 50%<\/strong><\/span> – to the state budget revenue. If the statutory capital represents more than 10.0% of the total monetary obligations of the NBM, the profit available for distribution will be transferred entirely<\/strong> <\/span>to the state budget revenue.<\/p>\n

The unaudited preliminary results of the NBM showed that, there was a profit available for distribution in the amount of 436 million lei in 2019. As TV8 reported<\/a>, the institution recorded a profit in 2018 (249 million lei), and until then, recorded losses in 2016 (-262 million lei) and 2017 (-95 million lei).<\/p>\n

All in all, in the period between 2017 and 2041, citizens of the Republic of Moldova have to pay over 13 billion lei<\/strong> principal and over 11 million lei<\/strong> interest after the\u00a0emergency loans disbursed by the National Bank of Moldova to the bankrupted banks involved in the \u201cGreat Moldovan Bank Robbery<\/a>\u201d, that happened in 2014, were converted into state debt.<\/p>\n

Photo: Pepi Stojanovski|<\/a>\u00a0Unsplash<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>Even though the measure was criticized by the experts and political opposition, MPs still voted the mechanism previously proposed by President Igor Dodon, according to which a part of the stolen billion from the Moldovan banking system will be refunded by redirecting the annual profits of the National Bank of Moldova (NBM). Read more about […]<\/p>\n","protected":false},"author":31,"featured_media":448081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[636,35,109,27,587,637],"class_list":["post-448080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-bank-robbery","tag-important","tag-law","tag-moldova","tag-nbm","tag-profit"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

Even though the measure was criticized by the experts and political opposition, MPs still voted the mechanism previously proposed by President Igor Dodon, according to which a part of the stolen billion from the Moldovan banking system will be refunded by redirecting the annual profits of the National Bank of Moldova (NBM).<\/p>\n

Read more about the legislative measure in the article “Who is going to pay back the stolen billion? President Dodon proposed a new legislative measure”<\/span><\/em><\/a><\/p>\n

The mechanism provides for allocating the NBM profit available for distribution to the state budget revenue as following:<\/p>\n

if the statutory capital constitutes less than 4.0% of the total monetary obligations of the National Bank, the profit available for distribution will be allocated entirely to increase the statutory capital of the institution. If the statutory capital constitutes from 4.0% to 10.0%, out of the total monetary obligations of the National Bank, 50%<\/span><\/strong> of the profit available for distribution will be allocated to the increase of the statutory capital, and 50%<\/strong><\/span> – to the state budget revenue. If the statutory capital represents more than 10.0% of the total monetary obligations of the NBM, the profit available for distribution will be transferred entirely<\/strong> <\/span>to the state budget revenue.<\/p>\n

The unaudited preliminary results of the NBM showed that, there was a profit available for distribution in the amount of 436 million lei in 2019. As TV8 reported<\/a>, the institution recorded a profit in 2018 (249 million lei), and until then, recorded losses in 2016 (-262 million lei) and 2017 (-95 million lei).<\/p>\n

All in all, in the period between 2017 and 2041, citizens of the Republic of Moldova have to pay over 13 billion lei<\/strong> principal and over 11 million lei<\/strong> interest after the\u00a0emergency loans disbursed by the National Bank of Moldova to the bankrupted banks involved in the \u201cGreat Moldovan Bank Robbery<\/a>\u201d, that happened in 2014, were converted into state debt.<\/p>\n

Photo: Pepi Stojanovski|<\/a>\u00a0Unsplash<\/a><\/p>\n

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