OREANDA-NEWS. March 19, 2009. In contrast to other countries, since the beginning of the global financial crisis, no bank in Moldova was declared insolvent and, accordingly, no client was denied in receiving money at the first request.

This was announced by the Minister of Finance Mariana Durlesteanu, noting that the reserve strength of the financial system in Moldova is very high. She reminded that during the last year the level of capitalization of the banks has increased by 26,8%, the assets grew by 22.3% and the loan portfolio by 19.4%, respectively.

As the result, the current liquidity of the banking system of Moldova amounted to about 30%. Now it is much higher than the requirements under the rules of risk restrictions (not less than 20%). She emphasized that it was done in conditions when in order to obtain a license in the banking activity, the applicant’s equity shall be not less than US10 million.

In addition, the commercial banks are required to create mandatory reserves in the amount of 17,5% of the funds attracted (including deposits). Mariana Durlesteanu reminded that, according to "The Banker", Moldova is the fifth in the world on the financial health index. Our country has the lowest level of debts.

The loans issued by the Moldovan banks amount to only 35% of GDP, unlike the U.S., where loans of the local banks reached 230% of GDP. Since 2001, Moldova has been reducing the external and internal public debt. So, if in 2000, the foreign debt of the Republic of Moldova amounts to 60,4% of GDP, in 2008 it has decreased up to 12.9%.