IMF cautious on Moldovan Central Bank shakeup
The International Monetary Fund (IMF) expressed reservations over the swift dismissal of Octavian Armașu as governor of Moldova's National Bank (BNM).
Though acknowledging Parliament's action, IMF representative Svetlana Cerović voiced concerns about procedural fairness:
"The swiftness of the decision and hearing raises questions about due process, particularly whether a comprehensive and professional legal analysis was conducted," Cerović stated.
She underscored the paramount importance of BNM independence within the IMF-backed program, stating: "Maintaining and upholding the independence of the BNM, alongside continued efforts towards strengthening governance and the rule of law, are critical for program implementation and national economic stability."
Armașu's dismissal on December 21st resulted from parliamentary dissatisfaction, primarily from PAS deputies, regarding his perceived inaction towards BNM employees implicated in the "Bank Fraud" case.
With remarkable speed, the parliament appointed Anca Dragu, former Romanian Finance Minister and Senate President, as the new BNM governor for a seven-year term on December 22nd. Her candidacy secured the backing of 58 deputies.
Translation by Iurie Tataru
