PRTSEDINTELE PARIA]VIENTULUI REPUBLICII MOLDOVA

MD-2073, ChiSinau, bd. $tefan cel Mare;i Sfint 105 www.oarlament.md

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Mr. Poul ThomsenDirectorEuropean DepartmentInternational Monetary Fund700 19th Street NWWashington, DC 20431 USA

Dear Mr. Thomsen:

I 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 technica[,

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 independentinternational experts, skilled to perform this type of task.

The Moldovan authorities and I 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.

Andrian CanduChairman of the Parliament

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