Tuesday, July 2nd

Moldova’s PM on a visit to Bucharest

The new prime minister of the Republic of Moldova arrives in Romania for an official visit on Tuesday. Prime Minister Maia Sandu is expected to meet Romania’s President Klaus Iohannis at the Cotroceni Presidential Palace in the capital Bucharest. Ms Sandu is also expected to meet her Romanian counterpart Viorica Dăncilă at the government headquarters in Victoria Plaza. Like many other former Soviet Union countries, Moldova is a battleground for influence between Brussels and Moscow. Moldova signed an association agreement with the EU in 2014 but full membership is likely to be on the backburner until the frozen conflict in Transnistria is solved. However, both President Iohannis and PM Dăncilă are likely to express their support for Moldova’s EU efforts and the country’s economic growth. A joint press conference of Ms Sandu ad Ms Dăncilă is expected after the talks. The Moldovan PM is accopanied by her deputy Andrei Năstase.

Romania’s TAROM Airlines under DIICOT investigation

Prosecutors of Romania’s Directorate for Investigating Organised Crime and Terrorism (DIICOT) conduct a raid on offices of TAROM, the Romanian national airline company allegedly involved in an embezzlement case. Judicial sources say the raid on Tuesday targeted TAROM’s maintenance service and an alleged criminal group including tradeunionists. And more, Romanian Prime Minister Viorica Dăncilă ordered an investigation into the sale last year of two Airbus A310 airliners. The two airliners were sold to Armenia Airways for $5.48 million.

Romania’s banking system under debate at the BNR

The headquarters of Romania’s National Bank (BNR) is expected to host a meeting of BNR officials with bank managers, financial experts and consultants, and representatives of IT companies. The meeting on Tuesday will focus on issues concerning current market trends and future projects in the industry. The talks will also include debates on the impact of Government Emergency Ordinances 114/2018 and 19/2019 on banks and businesses in Romania. Two major international development banks, the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), have formally complained to the Romanian government about new banking sector taxes. In an unusual move, the London-based EBRD and IFC, which is part of the World Bank, sent a joint letter to Bucharest in which they outlined their concerns about the plans. On the other hand, Romania’s ruling Social Democrats criticised the central bank for failing to prevent the weakening of the national leu, which has hit successive record lows after the government introduced a surprise tax on banks’ assets.

Alexandru Danga, RADOR