● MONDAY, July 1
Leu dropped to four years’ low, expert
In the second quarter of this year, the Moldovan leu hit its four years’ low, dropping 4.8% against the dollar and 5.7% against the euro, according to the economist Veaceslav Ioniță of the think-tank IDIS Viitorul. Ioniță posted on his blog that during this period the leu broke above two important levels, of 18 lei for one dollar and 20 lei for one euro.
CNFP starts financial remedy proceedings for Moldova-Astrovaz
The National Financial Market Commission (CNFP) has started financial remedy proceedings for the insurance company Moldova-Astrovaz, following an inspection initiated in December 2018. The inspection revealed breaches of procedures in forming claims reserves, including when issuing Green Card car insurance certificates.
● TUESDAY, July 2
Prosecutors must be held accountable for thwarting bank fraud investigation, opinion
The responsible prosecutors must be held accountable for thwarting the investigation into the bank fraud. These sequestrated the assets of persons suspected of involvement in the fraud with a great delay and some of these assets were thus sold. It will be now difficult for the state as it could suffer legal and financial consequences if it is in litigation with the new owners, ex-minister of finance Veaceslav Negruța was quoted by IPN as saying in the talk show “Expertise hour” on Jurnal TV channel.
Moldovan businesses learn about advantages of AEO status
The Authorized Economic Operator (AEO) status offers businesses engaged in international trade multiple advantages in the relationship with the Customs Service, such as a higher level of trust during customs proceedings. This was discussed at a presentation that brought together over 80 Moldovan companies.
● WEDNESDAY, July 3
Sergiu Tofilat: There are links between bank fraud and Russian laundromat
Expert of the „WatchDog” community Sergiu Tofilat said there are two connections between the bank fraud committed in Moldova and the Russian laundromat and these refer to the amendments made to the legislation to facilitate the given schemes and the inaction of state institutions. The issue was developed in the talk show “Important” on TVC21 channel. According to him, the Prosecutor’s Office and the National Anticorruption Center had to prevent the laundromat scheme as fictitious transactions guaranteed by Moldovan citizens were performed as part of this. The biggest responsibility in the bank fraud is borne by the National Bank of Moldova as this had many instruments to prevent this fraud.
Veaceslav Negruța: Hiding of Second Kroll Report generated other wrongdoings
Former minister of finance Veaceslav Negruța, who is an expert of Transparency International Moldova, said the hiding of the Second Kroll Report led to the commission of other wrongdoings. According to him, the report contains important things for a narrow segment of specialists, such as prosecutors and economists, those who know to analyze and understand such information. For the general public, the most important element – the list of final beneficiaries – is absent. The topic was developed in the talk show “Emphasis on today” on TVR Moldova channel,
About 242,000 numbers ported in six years
Since number portability became an option in July 2013, about 242,000 numbers have been ported, i.e. reassigned to other service providers, according to the National Regulatory Agency on Information and Communications Technology. The bulk of the ported numbers – 224,000 or 92.5% of the total – were mobile phone numbers. Only 19,000, or 7.5% were landline numbers.
● Thursday, July 4
Sergiu Tofilat: There are links between bank fraud and Russian laundromat
Expert of the “WatchDog” community Sergiu Tofilat said there are two connections between the bank fraud committed in Moldova and the Russian laundromat and these refer to the amendments made to the legislation to facilitate the given schemes and the inaction of state institutions. The issue was developed in the talk show “Important” on TVC21 channel. According to him, the Prosecutor’s Office and the National Anticorruption Center had to prevent the laundromat scheme as fictitious transactions guaranteed by Moldovan citizens were performed as part of this. The biggest responsibility in the bank fraud is borne by the National Bank of Moldova as this had many instruments to prevent this fraud.
Veaceslav Negruța: Hiding of Second Kroll Report generated other wrongdoings
Former minister of finance Veaceslav Negruța, who is an expert of Transparency International Moldova, said the hiding of the Second Kroll Report led to the commission of other wrongdoings. According to him, the report contains important things for a narrow segment of specialists, such as prosecutors and economists, those who know to analyze and understand such information. For the general public, the most important element – the list of final beneficiaries – is absent. The topic was developed in the talk show “Emphasis on today” on TVR Moldova channel
Moldtelecom director resigns
Dan Mitriuc has quit as general director of Moldtelecom, the national telecoms operator announced in a press statement. “During Dan Mitriuc’s period in office, Moldtelecom saw the fastest pace of growth on almost all fronts, both as measured against other operators and against the overall situation on the telecommunications market, earning the appreciation and the confidence of our customers,” said the press statement.
● FRIDAY, July 5
Taxpayers will have to pay additionally for bank fraud, expert
Economic expert Sergiu Gaibu said the probability of recovering the money stolen as a result of the bank fraud decreases daily as nothing is done in this regard. In a program on the public TV channel Moldova 1, he stated a moment will come when the taxpayers will have to also pay the already increased interest on the loan provided by the National Bank of Moldova for alleviating the consequences of the fraud. “We could need to recover not only this loan of 14 billion lei, minus the 2.5 billion lei that was recovered from the stolen assets, but also an interest rate that could amount to 20 billion lei cumulatively, which is evidently undesirable for the Republic of Moldova,” said Sergiu Gaibu.
Five years of DCFTA: two in three euros gained by Moldova from exports come from EU
Moldova’s exports to the EU in 2014-2018 rose by US$ 1.8 billion owing to the Association Agreement signed with the EU in the summer of 2014. The sum is by about 35% higher than in the period before the signing of the document, in 2011-2014. The data were presented in a news conference held to mark five years of the signing of the Deep and Comprehensive Free Trade Agreement.
● Saturday, July 6
ANRE to examine electricity providers’ request for higher rates
Specialists at the National Energy Regulatory Agency (ANRE) are to present calculations pursuant to the electricity providers’ requests for higher rates that were submitted in March. Per the procedure, ANRE has 180 days to answer the requests. ANRE spokesperson Galina Sanduța told IPN the requests were examined preliminarily, but the utilities were asked to provide additional information to back their requests. Now ANRE specialists have to check and then publish their calculations. The next step is to hold a public meeting where all sides are heard before ANRE can take a decision.
AIPA received 1,760 applications for farm subsidies in first quarter
In the first quarter of this year, the Agency for Agricultural Intervention and Payments (AIPA) received 1,760 requests for agricultural subsidies from the National Fund for Agricultural and Rural Development, totalling 326 million lei. This is by 12% more than the number of applications received in the similar period last year. According to AIPA, the investment subsides helped applicants create 406 new permanent jobs and 495 seasonal jobs.
