Kristina Iksar
The Finance Ministry explained this by European standards. “This is a European practice – the ‘double veto’ procedure. Not all countries include the president in this formula, there are other institutions involved in the decision. It can also be the Constitutional Court, depending on the decision of the state. In case the President of Moldova gives a different answer and does not support the Parliament’s decision to recall him, the acting president of the NBM continues its activity and ensures its functioning until the situation is resolved,” explained Cristina Ixari, State Secretary of the Ministry of Finance.
Regarding the proposed change in the areas of competences of the members of the NBM’s admin council and supervisory board, who will also have to have expertise in risk management and cybersecurity, Ixar said: “There are EBA (European Business Association (ed.) recommendations to revise the competencies of supervisory board members – there is a spectrum of skills and competencies that include financial reporting.”
Fifty-four PAS MPs voted in favor of the bill. The opposition warns that the new procedure could weaken parliament’s control over the National Bank.
“This draft was a commitment of the government to the IMF, it was voted in the government, but it is not a commitment of the parliament. I propose to analyze what the consequences of this project are and to understand that this structure is not outside the ‘orbit’ of the country and the parliament,” said Ion Chicu, an MP from the Alternative bloc.
The state secretary of the Ministry of Finance said that “this is a project designed to ensure long-term continuity, regardless of political fragmentation.”
Recall that Logos Press was the first to report on the intention to give the Moldovan president a decisive vote in the recall of the NBM leadership through amendments to the law on the National Bank, significantly changing the procedure of releasing the members of the Supervisory Council and the Executive Committee of the NBM, including its president. Previously, the decision on recall was made only by the Parliament. The new amendment makes the process two-stage: the Parliament makes a proposal and the President takes the final decision.
The draft is to be adopted in the second reading.
