On August 3, the President of Belarus, Alexander Lukashenko, held a working meeting with leading experts in the country's finances. The head of state expressed doubts about the need to establish specialized financial agency in the country. Following the meeting, the President ordered to finalize necessary documents in near future.
The meeting with the head of state was attended by the Prime Minister, Sergei Sidorsky, the chairman of the National Bank of Belarus, Pyotr Prokopovich, as well as the head of Belagroprombank, Sergei Rumas, and the head of Belarusbank, Nadezhda Ermakova, informed in the press service of the president.
The main question of Belarusian leader was why earlier Belarus could do without specialized financial agency, and today it was necessary to establish it. Furthermore, the president asked the experts whether it was possible to continue the work under old scheme.
«If banks just want to make their life easier and get away from government programs, then it is wrong, because in general these programs engage state-owned banks», Alexander Lukashenko said. «If banks want to improve their attractiveness by that, especially in the eyes of foreign partners, to attract lending — I understand it, but where is the guarantee that when creating an agency, we’ll increase the attractiveness of our banks so much? Nobody can give such guarantees».
However, according to the chairman of the National Bank, Pyotr Prokopovich, such an agency could manage some problem loans, arising when implementing state programs.
«Despite the fact that there are little bad loans (about 1% of total lending under state program), it would be a real assistance to banking system and would enhance banks’ credit ratings», Pyotr Prokopovich said.
Moreover, according to the head of the National Bank, specialized financial agency is also needed to ensure stable and sustainable operation of banking system.
