An interview by Ghenadie Cretu, Labor Migration Program Coordinator, International Organization for Migration, Mission to Moldova.
For some time, the mass-media of all the colors has been attacking the subject dealing with the impact caused by remittances' decrease on the economic situation in the Republic of Moldova, macro-financial stability, and especially on the currency situation in the country. This refers to such aspects as drop of consumption, imports and the eventual depreciation of the Moldovan Leu in relation to other currencies due to the decrease of remittances' wave. How do you see the real situation in this respect? From the very beginning let me come with some background information. The monetary transfers of the Moldovans left abroad for work witnessed a considerable increase especially during the last seven years. Thus, according to the National Bank of Moldova figures, in 1999 the remittances' volume accounted for approximately 89 million USD, reaching the level of 683 million USD in 2005, 1.218.000.000 USD in 2007, and 1.660.000.000 USD in 2008. But let's not forget that we talk here only about the amounts transferred through commercial banks and money transfer systems that is through official ways.