OREANDA-NEWS. August 12, 2009. According to the National Bank’s official press release, “this information doesn’t represent the facts being unreasoned and ungrounded”.

The National Bank emphasized that under the Law on monetary regulation of March 21st 2008, most capital export transactions are performed by economic subjects and individuals freely without restrictions and only some of them, specially stipulated in the law must receive a preliminary permission of the National Bank.

At the same time, payments or money transfers abroad are confirmed by respective documents, it is controlled by licensed banks by means of which these payments or transfers are made, and in case of dubious transactions, the authorized structures are informed. The National Bank said it had given permissions for transactions of export of capital in the amount of US 0.5 million from January 1 through April 5, 2009.

In this period of time, the total amount of the flow-out of capital related to direct portfolio investments and credits received from persons joined in this period of time totaled about US71.2 million with US 34 million of them being the repatriation of dividends to enterprises with foreign capital, most of them being strategic investors.

The National Bank says the flow-out of capital corresponding to the types of operations mentioned above totaled US 37.5 million in the first quarter of 2008. The National Bank emphasized therefore that the statements about the mass export of capital from Moldova couldn’t be considered as grounded and the existing regulation wouldn’t allow effecting such transfers from the country. The National Bank emphasizes that such statements of some mass media may have a negative impact on the stability of the foreign exchange market and as a result on the economy as a whole.