The Money Issue Danger

Significant growth in the monetary base was discussed at a meeting of the parliamentary commission investigating the situation on the currency market. PRB leaders, ministries of finance, economic development, the KGB, the prosecutor's office, "The Energocapital" intermediary  were invited. Deputies hoped to get answers to urgent for all Pridnestrovians issues related to emerging in recent years the situation on the currency market. the question of the sharp rise in the monetary base in the country has been added in addition to the national currency. Official data of Pridnestrovian Republican Bank suggests that the volume of cash and non-cash money increased by 317 million rubles in the republic due to the increase in balances on correspondent accounts of banks in September. Compared with August, an increase is 20%.

However, the detailed and full answers how to increase the monetary base will affect the rate of the ruble and inflation, were not received from representatives of PRB and relevant ministries. Members of the parliamentary committee during the meeting were unable to find out why this month is less than the currency of the central bank sold at auction. Anticipating the negative effects of monetary issue, deputies addressed the concerns of their voters' questions the Deputy Chairman of the PRB Vadim Stepanov.

Members of the parliamentary committee in connection with the issue of money could not help but worry about the issue of possible changes in the national currency in the near future.

Following the meeting, members of the commission of the Supreme Council made the decision about the direction of the main Bank of the necessary inquiries on the currency market situation. The next meeting is scheduled for tomorrow with inviting of the same responsible executives.