Chronicle of crisis
The global financial crisis will have a more serious impact on Belarus than on other countries. The crisis is knocking out the crutches ineffective “Belarusian model” has been holding on. The bottom, our economy will be falling down to, may be deeper than in other countries if the economy isn’t liberalized, famous Belarusian economist Leanid Zlotnikau said.
Topic: Chronicle of crisis
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3:18 «Business New Europe»: Belarus devaluation a step closer 55
Belarus is teetering ever closer to running out of foreign currency reserves as the current account deficit balloons, with analysts saying that the rapidly deteriorating economic situation makes a currency devaluation increasingly likely.
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12:46 Mass reduction at MAZ: 4.5 thousand workers laid off 101
“MAZ is on verge of bankruptcy,” Belarus high authorities acknowledge.
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1:15 Belarus’s gold and foreign currency reserves down 13.7% in past month 37
Gold and foreign currency reserves of Belarus fell by 13.7% only in the past month.
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15:26 Russian Prime Minister added up losses due to gas deliveries to Belarus 18
Every year Russia receives $3 billion less than it is due because of duty-free gas deliveries to Belarus.
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17:25 Belarus external debt increases as a snowball 12
Belarus gross external debt as of October 1, 2010 amounted to $25 593,3 billion.
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11:13 Belarus asks Iran to support the ruble 15
Decrease in currency reserves of Belarus can make devaluation of Belarusian ruble inevitable, analysts believe.
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13:43 Trade unions demand annulment of “Belaruskali” privatization 13
Funding of one of the leading enterprises in the country was arranged with violations of the Constitution and the Civil Code.
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16:37 100 per cent of duty put on oil products for Belarus, gas rises in price 153
Belarus will pay 100% of export duties for oil products after ratification of documents on the Single Economic State.
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9:01 Zlotnikau: Belarus needs to borrow $1 billion a month 10
And if the sources of external borrowings run low, Belarus living standards will decrease immediately.
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10:09 Moody’s: Bank system in Belarus can collapse any time 17
Belarusian bank system gives independent experts rise to concern.
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12:04 Record growth in negative balance of foreign goods trade 30
According to the results of the past 10 months, foreign goods trade negative balance reached $6932,5 mln.
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10:23 Belarus and Latvia have a row over oil 20
Belneftekhim accused LatRosTrans of economic damage caused by oil discharge from the northern branch of “Druzhba” pipeline.
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9:50 Belarusians were driven into the debt trap: everyone owes about $ 2,5 thousand 31
The debt of Belarus has grown by more than 10 times less than for 10 years.
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12:24 Belarus rolling down in debt pit 9
The credit debt of industrial enterprises grew by one third.
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14:59 Dollar already costs 3100 rubles in Belarusian exchange offices 27
The selling rate of cash U.S. dollar has significantly increased in bank currency exchange offices.
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9:15 Bahdankevich: Devaluation has already started in the country 19
The situation in the financial market of Belarus reminds the situation before January 2, 2009.
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15:15 Lukashenka has warned about devaluation 66
On the eve of the devaluation in 2009, the Belarusian governor promised the same thing.
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11:02 Economists: Real wages in Belarus has not grown, but even decreased 14
Even if dollar won’t grow, the real wages would come down anyway.
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9:49 Ministry of Finance intends to place government bonds in Hong Kong or Singapore 11
The Finance Minister of Belarus Andrei Kharkavets, the Economy Minister Mikalai Snapkou, the First Deputy Head of the National Bank Yury Alymau are sent on business trips to the Asian finance centers.
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9:25 National Bank of Belarus started ruble weakening? 4
The exchange rate of the Belarusian ruble fell last week against all main foreign currencies on the Belarusian Currency and Stock Exchange.
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12:56 Belarusian authorities Austrian investors caught trap in the same office in Vienna 19
The authorities continue to “modernize” the economy actively by investments to sports and entertainment centres.
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8:29 Is the National Bank of Belarus preparing denomination? 43
Bank cashiers are complaining that one is limiting the turnover of banknotes of 10 and 20 Rubles.
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9:39 Too much money printed in Belarus 22
The macroeconomic policy of Belarus has deteriorated and become an expansive one, as stated by experts at the Minsk Forum.
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11:12 Belarus is a global leader in tax burden 27
Belarus took the last 183 place in terms of tax burden in the research of IFC and World Bank “Doing Business-2011”.
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10:11 Yuri Dankov: “Where have you been? People have gone to jail” 30
A well-known Belarusian businessman has told about conditions for doing business in Belarus.
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10:21 Waiting for devaluation: Belarusians rush to buy foreign currency 42
The data for June-September demonstrate that more foreign currency has been sold to the population than bought.
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9:06 “Gazprom” is getting ready for “the worst» in the relationship with Belarusian authorities 20
In “Gazprom” do not exclude difficulties at the negotiations on the new contract with Belarus.
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13:40 For 9 months Belarus has traded at minus $6 billion 25
Negative balance of foreign trade of commodities is growing in unprecedented tempo.
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16:30 Zaika: People purchase dollars to preserve their incomes 41
Deficit of cash currency is sharply felt in Belarusian regions.
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16:12 Currency panic starts in regions of Belarus 39
It is a problem to buy dollars in bank branches in the regions. All currency is bought out immediately.
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14:31 Mass Media: Shmatko has not let Ukraine pumping Venezuelan oil to Belarus 8
Without Russia’s consent it will be impossible to organize the Venezuelan oil pumping through the Friendship (Druzhba) pipeline at the segment Odessa — Brody.
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15:47 Zlotnikau: Dollar can hit Br 5000 in Belarus 37
Our economy won’t be able to guarantee the planned rate of exchange of Br 3170 independently, believes economist Leanid Zlotnikau.
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12:19 Belarus’ debt to grow by half a billion 15
Placing state bonds of Belarus for the sum up to 15 billion Russian roubles at the Russian market can take place in November.
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12:54 Belarusian authorities ask IMF for money again 14
Belarus considers a possibility to obtain funds of the International Monetary Fund as a Precautionary Credit Line (PCL).
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15:32 Russia does not agree with decision of CIS Economic Court 28
The session of the Economic Court of the CIS has been rescheduled for January 19, 2011 at the request of the Russian side.
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15:28 Lukashenka called default a dirty word 76
The speech of the Belarusian ruler was shown in the evening on October, 7 in “Panarama” program.
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10:41 National Bank: Belarusians withdraw billions from “Belarusbank” in order to put them in other banks 29
The National Bank disproves the outflow of ruble deposits from the bank system of the country.
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12:12 Russia to hit BelAZ 19
Russian mining enterprises don’t like Belarusian dump trucks preferring to use car of other manufactories.
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8:54 Belarusian officials admit the situation in catastrophic (Video) 198
Lukashenka called officials spongers. “The whole country lives like that!” was the reply.
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16:26 Belarus may face repeat of 2008 financial crisis 32
The excess of demand over supply at the currency and stock exchange beats records.
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13:34 Belarus follows in Mavrodi’s footsteps 35
The Belarusian authorities are building a financial pyramid for people of Belarus.
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17:21 Belarus: Miserable allowance will be reduced 1
Unemployment benefits in Belarus makes up about $15.
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8:58 Belarus: Europe’s Last Dictator Gets a Little Lonelier 32
Is the prospect of genuine change in Belarus finally at hand?
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10:47 Gross foreign debt of Belarus reached 45.5% of GDP 32
According to the National Bank, $2470.3 million have been used for servicing the debt in the first six months of the year.
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11:39 Negative balance of foreign trade achieved $3 billion - important news. 5
It is a little less then for the analogue period of the crisis year of 2009 ($3281.6 million), indicate the data of the National Bank.
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16:47 Is Kazakhstan to do Belarus an ill service? 10
Belarus had come to the Customs Union to get economically advantageous duty free oil, but agreement on has not been reached yet.
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9:13 Belarus to produce oil in Venezuela and Gambia 17
The Belarusian Ministry of Foreign Affairs plans to establish partner relations with Gambia.
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12:02 Belarusian farming machinery is losing RF market 20
Russian Сoncern “Tractor Plants” (CTP) with the assistance of Rosselkhozbank has offered to agrarians a new credit program for purchases of machinery.
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11:42 Negative balance of foreign merchandise trade in Belarus achieved $3,51 billion 20
And these are data only for 6 months. Taking into account July, negative balance is higher.
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14:14 Economy minister: absence of loans hinders GDP growth 24
Economy Minister of Belarus Mikalai Snapkou finds the rate of growth of the economy’s crediting insufficient.
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