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.
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| Caa1 |
| S&P Rating |
| N/A |
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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.
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Political Structure
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.
Prominent Figures
President: Vladimir Voronin, since April 4, 2001
Prime Minister: Vasile Tarlev, since April 15, 2001
Central Bank in Moldova: Banca Nationala a Moldovei
Governor of the Bank: Leonid Talmaci
Unique Characteristics
The best-known product of Moldova is wine. The central and southern regions of the country have extensive and well-developed vineyards. In addition to wine production, Moldova is also known for its liquors and champagnes. Other major products of Moldova include sunflower seeds, plums, peaches, apples, and other fruits.
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.
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