LDPM regards as populist the Government`s decision on Investprivatbank

The Liberal Democratic Party regards as "a purely populist one" the yesterday's decision by the Government to purchase the bankrupt Investprivatbank and to give it to Banca de Economii [savings bank].
INFOTAG, 25 June 2009, 18:52


 Chisinau, June 25 ( INFOTAG ). LDPM leader Vlad Filat stated at a news conference today that in the result of the IPB's insolvency, nearly 8 thousand deposits have suffered, whose deposits constitute approximately 640 million lei. According to him, several months ago, deposits in Investprivatbank totaled 1.2 billion lei, of which 0.8 billion lei was invested in various risky projects, overwhelmingly in housing construction.

"Now the Government has in fact forced Banca de Economii into taking Investprivatbank with all its problems into the savings bank's ownership. Banca de Economii is a state-owned bank and, being the legal successor to the former USSR Sberbank [savings bank], it already has a very heavy burden to carry - to repay some 600 million lei to Sberbank deposits that have lost their savings due to breaking up of the Soviet Union. Instead of taking over Investprivatbank, Banca de Economii should have been given the possibility to work peacefully, repaying the old Soviet arrears. But no, our Government decides to have two problematic banks instead of only one", said the LDPM leader.

He demanded from the Government to ensure transparency in solving the Investprivatbank problem, first and foremost to publish data on bank credits, because "shortly before the bankruptcy, some people close to the country leadership took credits from the bank".

Filat also stated that some time ago, Investprivatbank received a very disadvantageous credit from FinComBank, whose founder is Oleg Voronin, the Moldovan President's son.


Chisinau, June 25 ( INFOTAG ). The Liberal Democratic Party thinks the Communist Party's accusations - that the opposition collaborates with xenophobic and extremist forces - should be just ignored.

LDPM leader Vlad Filat stated at the news conference today the accusations are only aimed at dragging the opposition into fruitless, exhaustive debates, for "it is a well-known fact that the ones who have really split the Moldovan society are Vladimir Voronin and his party".

Filat stated that nobody will ever be able to prove that he had ever said something xenophobic or extremist, or behaved so.

The LDPM leader expressed concern about the mounting attacks against the independent press by the Communist authorities. He assured the Liberal Democrats shall be standing next to such press and individual journalists that honestly work for democracy consolidation in Moldova.


Chisinau, June 25 ( INFOTAG ). The National Bank of Moldova (NBM) will inform the public of the final sale of Investprivatbank Friday evening.

For the time being there are two contradictory communications on the Investprivatbank site.

The Liquidator communicates that the contest on the complete or partial sale of the Investprivatbank assets was announced. According to the commercial banks, they were invited to participate in this contest Tuesday morning and in the afternoon the Government announced that the bank would be nationalized and its assets would be transferred to Banca de Economii.

The second communication on the Investprivatbank site says clearly that after the Government's extraordinary sitting, chaired by Prime Minister Zinaida Grechanaya and with the participation of NBM President Leonid Talmaci, Banca de Economii President Grigore Gacichevici and other persons the decision was taken that all the assets and liabilities of the Investprivatbank, which is being liquidated, will be transferred to Banca de Economii.

"Thus, the depositors of Investprivatbank, which license was recalled by the NBM, will automatically become the depositors of Banca de Economii. It will allow protecting the rights of the depositors", the communication says.

The commercial banks misunderstand, why the tender was announced and who will participate in it, if the problem was solved beforehand.

According to the Deposit Guarantee Fund, despite the fact that Investprivatbank has already been recognized as bankrupt, the fund received no requests from the liquidator to repay the guaranteed sums on deposits, - if the bank is sold, the financial resources of the fund will not be necessary and the bank's new owner will pay out deposits.