Are Minsk authorities to slip their hand for currency into pockets of enterprises?

Minsk city executive committee asks enterprises to provide information about foreign currency on their bank accounts.

Minsk city executive committee asks great exporters of the capital to give information on their foreign currency accounts’ balance promptly, BelaPAN informs. Such a letter was sent round to the city district executive committees on April 7 with a reference to an instruction of the chairman of Minsk city executive committee.

As a representative of economic department in the administration of Savetski district of Minsk comments on this document: “the letter has been sent to great exporters in fulfillment of an instruction of the chairman of Minsk Executive Committee Mikalai Ladutska.” The expert has noted however that he does know the aim of this instruction. “But that does not mean these organizations must provide such information. Some of them send us answers, and some refuse,” the representative of the administration said.

Minsk city executive committee was not available for comment on this issue so far.

The information department of the National Bank has stated that they do not know the reasons for such an order of the city authorities. To the question whether it could be related to a possible increase of the surrender of foreign exchange proceeds’ norm (which is 30% at the moment), the National Bank representative reminded about the moratorium declared by them on decision-making in foreign exchange market.

According to one of the experts of the bank sphere, it is possible that Minsk city executive committee leadership is working out some mechanism of redistribution of currency between enterprises.