BELARUS NEWS AND ANALYSIS

DATE:

04/02/2009

The National Banks of Azerbaijan and Belarus expressed readiness for coordination within the global crisis conditions

Baku, Fineko/abc.az. Belarus's initiative concerning development of the joint cooperation approaches within conditions of the financial downturn by CIS Countries' banks finds its supporters.

The Ambassador of Belarus to Azerbaijan Nikolai Pazkevich said that the National Banks of Azerbaijan and Belarus have expressed their willingness to coordinate actions within conditions of the financial downturn.

"It would be useful if banks and insurance companies coordinated their activity and supported the most reliable companies by extending loans or guarantying payments," Pazkevich said.

We should mention a significant difference between the status of Azerbaijan's and Belarus's economies and banking sector. Azerbaijan passed the first downturn stage without any losses while Belarus was forced to receive loans from the IMF and Russian Government agreeing to switch to the Russian ruble in future.

Source:

http://abc.az/eng/news/main/31942.html

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