IMF staff back Moldovan central bank response to crisis

Governor Dorin Dragutanu

An International Monetary Fund (IMF) staff report has backed many efforts by Moldova's central bank in its efforts to deal with the crisis caused by banking fraud. Up to $1bn, approximately 12% of Moldova's GDP, was lost in the fraud, leading to political and economic instability in the ex-Soviet republic.

Around $1bn "disappeared" from deposits in three of the country's largest banks after being unlawfully transferred to foreign accounts in November 2014, according to a report commissioned by

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