OREANDA-NEWS. May 18, 2009. The main challenge of the government and NBM is to reduce bank rate over the entire banking system, Vladimir Voronin.

This was announced by the President of Moldova, the speaker of the parliament Vladimir Voronin during the extended meeting on assessing financial and economic situation in the country. He noted that the NBM has created necessary banking conditions, in particular, reserve norms and base refinancing rate.

According to the President, it seems that the high cost of credits has resulted from the high-risk business of the borrowers, already associated with economic crisis and the commitments on the expensive deposits. Vladimir Voronin expressed hope that both problems could be overcome. According to the President, "in today’s conditions the banks can not and should not gain profit without risk of lending the real sector".

Vladimir Voronin stressed that NBM does not remain aloof from the problems and will propose some additional measures and conditions to achieve the real reduction in the bank interest as soon as possible.