PRESEDINTELE PARLAMENTULUI REPUBLICII MOLDOVA ‘Mo-2073, Chitin, bl Stefan ce Mores fin 105 ve patamentind {8 OG x15 Shp (hd. Mr. Poul Thomsen Director European Department International Monetary Fund 700 19th Street NW Washington, DC 20431 USA Dear Mr. Thomsen: | would like to thank you for continuous cooperation with the Republic of Moldova. Our country has been going through many turbulent times, and the support of International Monetary Fund, both financial and technical, has always been invaluable for restoring macro financial stability and implementation of key structural reforms. ‘As you are aware, the Moldovan banking sector was struck by large-scale fraudulent transactions that left one-third of the banking sector insolvent. While the new Government is determined to undertake steps to liquidate these banks, improve crisis management and the regulatory and supervisory frameworks, in my view, it is extremely important to have an independent expert assessment of National Bank's supervisory actions taken during the period when fraud occurred. We are seeking for your implication, guidance and advice on how this could be organized and managed with the help of independent international experts, skilled to perform this type of task. The Moldovan authorities and | appreciate continuous and constructive dialogue with your staff in Chisinau and Washington DC, and very much looking forward to a successful completion of negotiations in the coming weeks. Sit er Sincerely OAS, Andrian Candu Chairman of the Parliament L