National Bank Not to Take Decisions on Exchange Rate Policy for Month

31.03.2011 12:45
Архив Редакция

National Bank of Belarus does not plan to take any decisions on exchange rates and credit policy next month. "The board of the National Bank has decided to temporarily refrain from taking any action in the currency exchange rate and monetary policy for a period of 20-30 days, pending Russia's state loan," said a source at the bank.

The National Bank has pointed out that the measures, taken previously, are long-term, comprehensive and shock in some degree. According to the experts of the National Bank, these measures will allow the Belarusian economy to adjust to the export promotion and attraction of foreign currency in Belarus, BelTA informs.

As Telegraf previously reported, the Belarusian authorities expect Russia to issue a $3 billion loan to prop up the economy. To this end, the Ministry of Economy of Belarus should develop and provide the Russian side with a concrete action plan to reform the Belarusian economy.