Romania's former finance minister to head Moldova's central bank

Moldova's parliament on Friday voted to appoint Romania's former finance minister Anca Dragu as central bank chief following the dismissal of Octavian Armasu for failing to take action over a 2014-2015 bank fraud scandal. "It is a great honor for me to contribute to the European path of the Republic of Moldova.

Moldova's parliament on Friday voted to appoint Romania's former finance minister Anca Dragu as central bank chief following the dismissal of Octavian Armasu for failing to take action over a 2014-2015 bank fraud scandal.

"It is a great honor for me to contribute to the European path of the Republic of Moldova. We need strong, independent institutions to ensure the country's economic stability and prosperity for all citizens," Dragu said after the vote, supported by 58 deputies in the 101-seat chamber. Her predecessor was dismissed on Thursday following two years of discussions and failed attempts to recover any of the $1 billion that was taken out of the banking system in the fraud scandal.

The sum amounted to 12% of Moldova's gross domestic product at the time. Two of the figures alleged to be the masterminds of the fraud remain at large. Dragu is 51 years old, and in 2020-2021 was Romania's Senate president. She has both Romanian and Moldovan citizenship, the latter of which she accepted on Thursday.

Moldova's former president, the pro-Russian Igor Dodon, opposed the vote. The appointment of a foreigner to govern the main financial institution was a "betrayal of the interests of Moldova's citizens", he said on Telegram messenger. The International Monetary Fund said on Friday that a "very quick" decision on Armasu's dismissal raised concerns over due process.

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