Moldova Bank Fraud Protests Threaten IMF Talks

Ongoing protests in Moldova threaten the country's talks with the International Monetary Fund (IMF), scheduled for mid-September, out indefinitely, Moldovan Prime Minister Valeriu Strelet said Monday.

CHISINAU (Sputnik) – Thousands of people gathered in Chisinau on Sunday demanding the resignation of Moldovan government and president.

The protesters set up a tent camp in front of government buildings and promised to continue the rallies on Monday. The protests were sparked by the disappearance of the equivalent of 15 percent of the country’s GPD from three national banks in 2014.

"If certain forces are aiming to destabilize the situation, then I have reason to believe the IMF delegation visit can once again be postponed," Strelet said.

The IMF canceled its visit to Moldova in June following former Prime Minister Chiril Gaburici’s resignation less than four months after taking office.

Prior to his resignation, Gaburici warned that unless Moldova reached a new agreement with the IMF, the country could default on its debt.

Strelet, who succeeded Gaburici in late July, said the Moldovan government had created a working group to conduct cooperation renewal talks with the IMF mission.

The loss of 900 million euro ($1 billion at current exchange rates) in the bank fraud negatively impacted on the country's banking system and depreciated the national currency, the leu.