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Date: Dec 22, 2016 (21:12)

World Bank Statement on Capital Liberalization and Fiscal Stimulation Law in Moldova

The World Bank has been asked frequently this week for its views on the draft law on Capital Liberalization and Fiscal Stimulation. International experience suggests that a thorough implementation of the asset declarations required by the Integrity Package enacted earlier this year can be an effective tool for combatting corruption. In reviewing the new draft law, however, we observed a number of integrity risks, which we communicated to the Government on December 15th, 2016.

We also indicated that the future of the Integrity Package would be an element in the determination of future World Bank budget support for Moldova. We are in dialogue with the authorities and believe that the new legislation will not be approved without significant revision. The World Bank acknowledges the legitimate concerns of civil society and will continue to support Moldova's integrity reforms for the benefit of ordinary Moldovans.