OREANDA-NEWS. September 19, 2013. As the Central Bank Transparency and Independence: Updates and New Measures1998-2010 by Barry Eichengree and Nergiz Dincer states, the level of the National Bank of Moldova’s transparency has grown from 5 to 8 points of 15 possible.

Among all states of South-East Europe, more transparent central banks were those in Hungary (13.5 points), in the Czech republic (12) and Poland (9). The Central Bank of Moldova was given 8 points as well as Moldova. The Moldovan central bank is considered more transparent than central banks of Belarus 95 points), Bulgaria (5.5), Romania (7.5), Russia (3), Ukraine (5), Bosnia and Herzegovina (2.5), Croatia (2.5) and Macedonia (7).

The average transparency level of central banks is 8.4 in Europe, being 5.8 in South Europe, 7.6 and East Europe, 9.6 in North Europe and 10.8 in West Europe. In countries of Euro area transparency of banks is scored 11 points of 15. To compare, in countries of the American continent, the central banks’ transparency averaged 5.4 points (the highs ones – 11 - being scored by the central banks of Canada and the USA and by the central banks of Brazil, Chile and Peru - 8.5 points each).

In Oceanian countries the transparency averaged 5.8 points, making 11 in Australia and 14 in New Zealand. In Asian states it averaged 5.1 points, being 11.5 in Israel, 10.5 in Japan and 10 in Philippines The research measured transparency at 120 central banks worldwide. As of 2010, the most transparent banks were Riksbank – the central bank of Sweden (14.5 points of 15 possible); The Reserve Bank- the central bank of New Zealand (14 points); the central bank of Hungary (13,5); the central bank of the Czech Republic (12); and central banks of Great Britain and Israel (12 and 11.5 respectively.

The countries were ranked in line with the following criteria: Rules for election o the President of Central Bank, terms of his duties and causes of his resignation, norms and rules in line with which monetary and lending policies are approved, principles of settling conflicts, goals of the central bank, legal restrictions to lending, etc.