ECB Capital Contribution Won't Cut Moldovan Central Bank Profit, Officials Claim
Moldova's Central Bank has clarified its position on the European Central Bank (ECB) capital contribution, stating that it will not affect the National Bank's available distributable profit.
The National Bank of Moldova (BNM) made this statement during a parliamentary debate on a draft law aimed at strengthening the independence of the BNM and bringing national legislation in line with European standards.
According to Aliona Vacarița, a representative from the BNM, the capital contribution is not an expense but an investment, and it will be made in two stages: upon accession to the EU and when Moldova adopts the euro as its currency.
The draft law also stipulates that the BNM and its governing bodies shall exercise their powers independently and may not seek or accept instructions from Parliament, the Government, or other public authorities.