New Moldovan governor takes up post

The Moldovan currency, the leu

The new governor of the National Bank of Moldova (NBM) took up his position today (April 11), a spokeswoman confirmed. Sergiu Cioclea, a former senior manager at BNP Paribas, succeeds Dorin Dragutanu.

Cioclea will have to deal with the continuing fallout from the disappearance in November 2014 of up to $1 billion, or approximately one-eighth of Moldovan GDP, from customer accounts in three commercial banks.

Dragutanu continued to serve as governor for almost seven months following his

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