Belarus Mulls Moves To Stabilize Ruble
Belarus is seeking to introduce new measures to stabilize its currency next week.
Belarus is seeking to introduce new measures to stabilize its currency next week, The Wall Street Journal reports. The ruble had been devalued 36% in May after pre-election spending led to deficit in the country’s current account and exhausted reserves. Additional measures will be taken to prevent weakening of the exchange rate following a rise in the difference between the Belarusian ruble’s official and black market exchange rates. In June, the nation had secured a $3 billion funding from a Russia-led bailout fund, which will only be released over the next three years. The International Monetary Fund has also been requested for a funding of up to $8 billion.
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