MINSK, 29 May (BelTA) – Further strengthening of cooperation in the monetary and currency policy was discussed at the 12th meeting of the consultative council of the central banks of Belarus and Ukraine, BelTA learned from Information and PR Department of the National Bank.
Participants of the meeting considered the performance of the banking systems of Belarus and Ukraine in 2016, principles and most important parameters of the monetary policy in the two countries in 2017, approaches to liberalize the currency legislation and financial stability issues. The parties also considered the progress made in the implementation of the recommendations of the Basel Commission on Banking Supervision and the performance of the payment systems in Belarus and Ukraine.
“The aim of our meeting was to discuss the main issues the central banks of Ukraine and Belarus face. These are currency liberalization, banking supervision, payment systems. Our countries are similar, and we need to share experience,” Deputy Chairman of the Board of the National Bank of Ukraine Dmitry Sologub said.
Deputy Chairman of the Board of the National Bank of Belarus Sergei Kalechits added that traditionally close trade and economic ties between the two countries secure a regular dialogue in the banking and financial areas. “The central banks of Belarus and Ukraine, as regulators of the national banking markets, enjoy a long-standing cooperation in sharing relevant experience and the assessment of the situation in the monetary policy, currency regulation, banking supervision, optimization of inflation processes,” he said.
On Ukraine's invitation, representatives of the National Bank of Belarus also took part in the meetings of the committee on monetary policy and the board of the National Bank of Ukraine.
The meeting of the consultative board of the central banks of the two countries was held in Kiev on 25-26 May. The council was set up in May 2002 to promote foreign economic relations between two countries, currency markets and payment systems, improve conditions of the activity of economic entities. The council prepares for and supervises the implementation of bilateral agreements in the area of banking activity, addresses current problems in bilateral cooperation and exchanges experience.
