•  
  •  
  •  

Moldova's c-bank governor resigns

Moldova's c-bank governor resigns Sergiu Cioclea, Moldovs c-bank Author (gov.md) License: all rights reserved.

CHISINAU (Moldova), November 20 (SeeNews) - Moldova’s central bank governor Sergiu Cioclea said on Tuesday he is resigning for personal reasons and expects to leave his post on November 30.

"I participated in the selection process for the post of governor in the early days of March 2016, after a long winter of financial and political crisis," Cioclea said during a news conference streamed on the central bank's website.

"I take this opportunity to draw the European Commission's attention not to stop the twinning program on banking supervision. The terms of the program are very complex, other countries have years to implement them, we have a very short period. I think that this technical assistance should not be cancelled, and I hope that it will continue and will benefit all citizens," Cioclea added.

Cioclea became central bank governor for a seven-year term in 2016, replacing Dorin Dragutanu, who resigned amid a major embezzlement scandal after serving in the post for six years.

In November 2014, about $1 billion (880 million euro) went missing from three local banks - Banca de Economii, Banca Sociala and Unibank. The banks were subsequently liquidated.

($=0.8758 euro)

Compare
5 / 5 free articles left this month
Get more for free. Sign up for Basic subscription
Get full access. Upgrade to Premium subscription