BELARUS NEWS AND ANALYSIS

DATE:

22/03/2011

Belarus is suffering from a lack of foreign currency reserves

Belarus is suffering from a lack of foreign currency reserves, but is trying to avoid a devaluation of its currency. It has an insupportable current account deficit, which accounted for 16% of GDP last year. Last week, the Belarus Central Bank hiked interest rates and new fees and restrictions have been introduced to foreign exchange transactions in Belarus. However, the measures are likely to be insufficient and devaluation seems likely.

Source:

http://www.fxstreet.com/fundamental/analysis-reports/emea-daily/2011/03/22/


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