There won’t be Russian ruble in Belarus :: Charter'97 :: News

There are no grounds for creation of a currency union between Belarus and Russia until equal conditions created for economic entities of Belarus and Russia. It has been stated on May 10 at a press-conference in Minsk by the chairman of the management of the National bank of Belarus Pyotr Prakapovich. As said by him, introduction of Russian ruble is not a problem of central banks, but of governments of the two countries. “It is primarily a question to the Russian government that had left agreements envisaged by a common plan of governments and central banks of the two states. Creating of equal conditions for economic entities and population including equal prices for energy resources had been envisaged by the plan,” the chief banker of Belarus underlined. P. Prakapovich noted that Russia’s departure from this underlying principle of introduction a common currency has postponed solving this problem for indefinite time.

“We are not against transition to market relations and process, including prices for energy resources. But we should do that simultaneously with price growth in Russia,” P.Prakapovich said.

He added that all key issues on creation of a currency union with Russia were solved in 2003. But issuing of a 2-billion stabilization credit to Belarus to support its economy in the transition period hadn’t been decided upon then. According to Prakapovich, is showed that the ball is at the Russia’s side still.

Cooperation of the National Bank of Belarus with Russia’s Central bank is still at the same level, P. Prakapovich said. “No factors including rise in prices for energy resources haven’t influenced relations with the Central bank. We have established productive relations, and their aim is to promote turnover between our countries in every way,” the head of the national bank said.

The head of the National bank has also said that the new session of Inter-bank currency council of Belarus and Russia is to take place on May 24-26 in Minsk.