National Bank denies allegations of massive capital flight from Moldova

Last Friday's issue of Jurnal de Chisinau had a front-page news story about massive capital flight from Moldova in the wake of political instability and unclarity about the ability of the Party of Communists to stay in power.

The paper said that goods worth over 700 million U.S. dollars have been withdrawn from the reserves of the National Bank of Moldova. Most of this money allegedly belongs to businesspeople that had worked closely with the Party of Communists since 2001.

Liberal Democratic Party head Vlad Filat has publicly asked the National Bank and Moldovan Customs to prevent this illegal flight of capital.

Today, media outlets published a statement from Moldova's National Bank, which denies the allegations made by both by Jurnal de Chisinau and Vlad Filat. The central bank stresses that the value of authorized transactions involving the export of capital between January 1 and April 5, 2009 stood at about 0.5 million U.S. dollars.

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