Schedule of reception of citizens by the Executive Board of the National Bank of Moldova.
The registration of applicants for an audience is carried out based on a written request on the subject addressed.
Anca Dragu, Governor
1st Wednesday of the month: 14.00-16.00.
Petru Rotaru, First Deputy Governor
2nd Wednesday of the month: 14.00-16.00.
Tatiana Ivanicichina, Deputy Governor
3rd Wednesday of the month: 14.00-16.00.
Constantin Șchendra, Deputy Governor
4th Wednesday of the month: 14.00-16.00.
Mihnea Constantinescu, Deputy Governor
5th Wednesday of the month: 14.00-16.00.
Please, note the requirements for receiving and examining petitions and requests for access to information of public interest addressed to the National Bank of Moldova!
National Bank and the members of its decision-making bodies shall be independent in exercising the tasks conferred upon them by law, and shall neither seek nor take instructions from public authorities or from any other authority.
In order to ensure and maintain price stability over the medium term, the National Bank’s aim will be to keep inflation (measured by Consumer Price Index) at the level of 5.0 percent annually with a possible deviation of ± 1.5 percentage points, considered to be optimal for growth and development of Moldova's economy over the medium-term.
Financial stability is achieved by strengthening the resilience of the financial system, limiting the contagion effect and reducing the accumulation of systemic risks, thus contributing to the sustainability of the financial sector and economic growth.
National Bank shall have the exclusive right to issue on the territory of the Republic of Moldova banknotes and coins as legal tender, as well as commemorative and jubilee banknotes and coins as legal tender and for numismatic purposes.
National Bank of Moldova acts as banker and fiscal agent of the State and shall receive from state bodies economic and financial information and documents, which are necessary for carrying out its tasks.
National Bank shall inform the public on the monetary policy strategy on the results of the macroeconomic analysis, the evolution of the financial market and on statistics, including with regard to monetary supply, crediting, balance of payments and the state of the foreign exchange market.
National Bank of Moldova is responsable for the compilation of the balance of payments, international investment position and the statistics of the external debt of the Republic of Moldova.
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Video/ Interview with the Governor of the NBM, Anca Dragu, for Euromoney
Interview with the Governor of the National Bank of Moldova, Anca Dragu, for Euromoney within the forum "The Central & Eastern European Forum 2024", Vienna, Austria.
Euromoney: Is monetary policy back to normal?
Anca Dragu: Well, in Moldova, what we see indeed a very rapid decrease of inflation. It came down from over 30% in October 2022 to 4.2% in December 2023. So, in a little bit more than a year, inflation really fell dramatically from over 30% to below 5%, which means that now we are below the inflation target. We are in the corridor and the corridor is plus ±1.5 percentage points around 5% inflation target.
Euromoney: What does it mean for the market, then for the central bank?
Anca Dragu: So yes, it means that after one and a half years when the central bank was behind the curve, when talking about understanding inflation and reactions over the last few months, the central bank really went along with the market and with actually with the expectations because expectations are very important in inflationary processes.
We are looking at risks and uncertainties ahead, of course, in order to conduct our monetary policy, because on one hand we have to and we should keep inflation low, but also, we have to look at the banking sector and the economy at large. One important item I always mention is access to credit, that should be really strengthened and enforced in Moldova. And of course, we all have in mind the new process, that Moldova started this negotiations for EU accession is very important for us, and the central bank is here to help.
Euromoney: What are the lessons for central bankers from the collapse of Credit Suisse?
Anca Dragu: I think there are a few lessons, but I would mention the two most important. One, it's bank supervision. So, you really have to be careful how you assess at the supervisor, the quality of portfolio and the implications of interest rates, increase or decrease. So, having a stress test and a sensitivity analysis of interest rate is key for central bankers.
And the second very important lesson is the bank resolution framework. We know that it was introduced and highlighted and enforced and worked on after the crisis in 2008. But, as we see, there's still room for improving the bank resolution framework. And this is what we are doing also in Moldova right now.
