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6 May 2016

Belarus to set up financial stability council

MINSK, 6 May (BelTA) – There are plans to set up a financial stability council in Belarus, Chairman of the Board of the National Bank Pavel Kallaur told a press conference on 6 May, BelTA has learned.

The International Monetary Fund (IMF) recommended Belarus to set up such a council following its April mission. It is expected that the council will be led by the Chairman of the Board of the National Bank and the First Deputy Prime Minister. The proposals on setting up the council will be considered by the government.

“The position of the National Bank is univocal. We need this council. This initiative was voiced even before the arrival of the IMF mission,” Pavel Kallaur noted.

Commenting on the IMF’s assessment of Belarus’ financial stability, Pavel Kallaur noted that the National Bank would take its recommendations into account. However, no cardinal measures are expected.

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