Moldova's President Gives Green Light for Controversial Fiscal Reform

Moldova's pro-Russian President Igor Dodon promulgated a controversial fiscal reform package on Thursday which critics say could turn the country into a money laundering hub.

After giving the package the green light, Dodon took to Facebook to say that his decision to approve the laws was "economically, socially and politically reasoned" and that he "took into consideration" comments of experts, academics and opinion-makers from Moldova and abroad.

He also shared his opposition to EU and US financial support, adding that: "Without all of these [approved laws], the new government will have to stand with an outstretched hand to the humanitarian aid from the West or elsewhere.

"This shameful practice must be stopped," he concluded.

The package includes three laws - covering tax amnesty, legalising assets acquired illicitly, and changing the taxation threshold for individuals - which the government say are to bolster business, but which have come under heavy criticism from the IMF, EU and US.

The most controversial of the three allows a person to legalise money and assets that they have acquired but not declared for tax purposes, with the state imposing a 3-per-cent fee on the declared assets.

Moldova has already come under criticism for a law already in function that gives individuals Moldovan citizenship for 100,000 euros or 250,000 euros of investments.

The Moldovan opposition claims that the combination of these two laws will make Moldova a paradise for fugitives and criminals, who they allege will use Moldova to launder money.

However, Dodon also stated in his Facebook post on Thursday that he believes "that this package of laws is a good premise for much more cardinal reforms that the socialist...