Document repealing "billion law" published in Official Journal of Moldova
10:19 | 22.12.2020 Category: Economic
Chisinau, 22 December /MOLDPRES/- The promulgation decree and the law to repeal Law No235/2016 on issuance of state bonds to execute by the Ministry of Finance the payment obligations derived from the state guarantees No807 of 17 November 2014 and No101 of 1 April 2015 were published in the Official Journal and entered into force.
The document was submitted as initiative by a group of MPs of PSRM parliamentary faction. They proposed that the money due to be allocated to recover the debts of the three banks be earmarked to support farmers.
Thus, the government within 3 months will work out and propose the necessary measures to solve the debt problem of the banks - Banca de Economii (Savings Bank), Social Bank and Unibank to the National Bank of Moldova.
Law of 03.10.2016 on issuing state bonds for execution by the Ministry of Finance of payment obligations derived from state guarantees No807 of 17 November 2014 and No101 of 1 April 2015 provides for issuance of government bonds at nominal value on fixed interest rate for up to 25 years, in a total volume of up to 13583717000 lei, with effective interest rate of 5 percent.