The Moldovan Leu, denoted by the ISO symbol, MDL, is the official currency of Moldova. A Leu is subdivided into 100 bani. The Moldovan Leu was created after the establishment of the independent state of Moldova. Before Moldova was created, it was a province of Romania. The Romanian Leu circulated in this area, which later kept the name Leu.
Sovereign credit ratings play an important part in determining a country's access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.
What does it look like?
Moldova is a republic with three main branches in its government: executive, legislative, and judicial. The executive branch consists of a president, prime minister, first deputy minister, deputy minister, and a cabinet. The president is elected by Parliament for a four-year term. The president appoints all the different levels of ministers after he takes office. The cabinet is selected by the president as well, however has to be approved by the Parliament. The legislative branch is a unicameral Parliament with 101 seats. The parties and electoral blocs are elected by popular vote to serve a term of four years. The judicial branch is the Supreme Court and a Constitutional Court. The Constitutional Court is the sole authority for constitutional judicature.
Chief of State Acting President Mihai GHIMPU (since 11 September 2009) note: Vladimir VORONIN, president since 4 April 2001, resigned on 11 September 2009; Mihai GHIMPU, the Speaker of Parliament, is serving as acting president until new elections can be held, possibly in 2010; the parliament twice failed to elect a president in 2009 and must now wait until at least late 2010 to dissolve itself and hold new presidential elections, given that the constitution forbids parliament from being dissolved more than twice in a 12 month period
Head of Government Prime Minister Vladimir FILAT (since 25 September 2009); Deputy Prime Minister and Minister of Foreign Affairs and European Integration Iurie LEANCA (since 25 September 2009), Deputy Prime Minister and Minister of Economy Valeriu LAZAR (since 25 September 2009), Deputy Prime Minister Ion NEGREI (since 25 September 2009) and Deputy Prime Minister Victor OSIPOV (since 25 September 2009)
Cabinet Cabinet selected by president, subject to approval of Parliament
Elections president elected by Parliament for a four-year term (eligible for a second term); last successful election held 4 April 2005, most recent (failed) election held 10 December 2009); note - prime minister designated by the president upon consultation with Parliament; within 15 days from designation, the prime minister-designate must request a vote of confidence from the Parliament regarding his/her work program and entire cabinet; prime minister designated 17 September 2009; cabinet received a vote of confidence 25 September 2009
Election Results Vladimir VORONIN reelected president (2005); parliamentary votes - Vladimir VORONIN 75, Gheorghe DUCA 1; Vladimir FILAT designated prime minister; parliamentary votes of confidence - 53 of 101
Key Economic Factors
After several years of economic hardships, Moldova began seeing some growth, of 2.1% in 2000 and 6.1% in 2001. The economy remains vulnerable to higher fuel prices, poor agricultural weather, and the skepticism of foreign investors.