Unique Emission Center to Be Moscow-Based Says Kudrin 11:12, 10/02/2003
Russia and Belarus coordinated their positions concerning the common emission center of the future “union state”, due to be formed on the basis of Russia’s Central Bank, said Vice-Premier, Minister of finances of Russia Aleksei Kudrin. “At the moment we coordinated our positions on the emission center. It will be a common one, set up on the premises of the Russian Central Bank, to which Belarusians already consented,” – underscored Kudrin, speaking on Friday in an interview to the radio “Echo of Moscow”. Meantime, he stressed that it doesn’t really matter where this emission center will be located geographically.
Kudrin reiterated that in compliance with the agreement, signed by Russia and Belarus two years ago, on the transition to the common currency, starting from the year 2005 this currency will be Russian ruble, while from 2008 – the new common currency unit, which can be some third type of currency.
According to Kudrin, in future Russia’s gold and hard currency reserves may well turn into the “union state’s” reserves.
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