18.04.2011 16:06

Chairman of Russia's Sberbank Board German Gref believes that the Belarusian authorities will be forced to devalue the national currency, as the country's trade deficit is increasing and the volume of reserves is getting reduced. "The government of Belarus will not be able to avoid devaluation, although it will do the economy only good," said German Gref on April 18.

As Telegraf previously reported, experts from the International Monetary Fund forecast that the Belarusian authorities will soon be forced to devalue the national currency, despite their unwillingness to do it, in order to save the rapidly dwindling foreign currency reserves.

In turn, Herbert Stepic, Chief Executive Officer of Raiffeisen Bank International AG (RBI), which owns 88% of Belarus’s Priorbank, said at a meeting with analysts in London that 30% devaluation of the ruble is possible in Belarus.

Based on RIA «Novosti» materials

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