Business news

MINSK, 14 April (BelTA) – The current economic situation and the progress in the implementation of the monetary policy in Belarus and Russia in 2018 were discussed at the 48th session of the Belarus-Russia Interbank Currency Council, BelTA learned from the Information and Public Relations Department of the National Bank of the Republic of Belarus (NBRB).

“The sides evaluated the work of Belarus’ and Russia’s banking systems, the bilateral balance of payments and the Union State balance of payments in 2017, international reserves and foreign currency liquidity. They put a focus on the development of distributed ledger technologies and regulation of digital financial assets (digital tokens) in Belarus and Russia,” the NBRB said.

The meeting participants also exchanged opinions on the fight against cyber crime in the financial sector.

The session took place in Polotsk on 13 April. It was attended by Chairman of the NBRB Board Pavel Kallaur, First Deputy Governor of the Bank of Russia Ksenia Yudaeva, and other representatives of the two central banks.

The Interbank Currency Council of the NBRB and the Central Bank of Russia was established in November 1999. The council is designed to draft interstate banking agreements, unify the legal financial and banking framework to enable equal conditions for the Belarusian and Russian commercial entities, and work out recommendations on the development and implementation of a synchronized monetary and currency policy.