Ministry of Finance Press Release on the occasion of the amendment of PZP to the Law on Central Bank

The Law on CBMNE has been prepared in accordance with the best European practices and recommendations of the IMF and the World Bank. When developing the legislation, the intention was to set the provisions with the objective of ensuring the greatest possible independence degree of the Central Bank. All open issues were resolved through an active discussion and alignment with the IMFs representatives, thus they represent the best practice recommendations that should be incorporated into our legislative framework. The Ministry of Finance will take into consideration individual suggestions and consider whether some of them can improve the draft of the aforementioned Law. Certainly, assistance to any bank wasn’t the intention of the Law, more importantly conditions were created to establish the Central bank as governing institutions for all banks, i.e., last resort creditor, which is a standard, and which up to now did not exist in our system.