Moldovan Parliament approves new central bank governor

Staff Writer
Columbus CEO

CHISINAU, Moldova (AP) — Moldova's Parliament has approved a new central bank governor after the previous one resigned over his handling of a banking scandal where more than $1 billion disappeared.

Some 61 lawmakers voted Friday to approve the appointment of Sergiu Cioclea, a specialist in emerging markets in Eastern Europe, Russia and Turkey with 17 years banking experience. He will take up the post in April for a seven-year-term.

Dorin Dragutanu resigned as governor of the National Bank of Moldova in September 2015 amid protests over the money that went missing from three banks prior to elections in November 2014. A grenade was lobbed and exploded at his house on Feb. 1. There were no casualties.

In the past year, Moldova has been mired in political turmoil, and has had six prime ministers.