OREANDA-NEWS. July 07, 2011. Moldova’s Ministry of Finance will issues and transfer to Banca de Economii public bonds in the amount of 436.9 million leis. It is stipulated by the bill on additional measures to ensure financial stability, approved at the government’s meeting on Wednesday. The Finance Minister Veaceslav Negruta said the matter concerns compensation of funds spent by Banca de Economii for paying deposits to the bankrupted Investprivatbank’s depositors.

The Finance Minister stressed that presence of these debt liabilities on the Banca de Economii’s balance has a negative impact on the bank’s financial results. According to him, it is planned that the Ministry of Finance will issue and transfer to the Banca de Economii public bonds within 7 days after the bill comes into force, this way undertaking Investprivatbank’s liabilities to it. It is stipulated that the public bonds will be issued at the fixed rate of 0.01 percent p.a. on condition of the quarterly redemption till December 30, 2015.

The volume of public bonds is equal to the amount of the Investprivatbank’s debt to the Banca de Economii at the moment. In addition, within 5 days after the bill comes into force, the banking system’s deposits guarantee fund will transfer to the Banca de Economii 48.1 million leis – the total sum of individuals’ deposits in the guaranteed volume as of 19th of July 2009, paid to Investprivatbank’s depositors at the expense of funds, received from Banca de Economii. Prime Minister Vladimir Filat said the solution of the problem of compensation to the Banca de Ecoomii had been agreed upon with the IMF and became the result of the compromise.