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19 April 2023, 12:24

Belarus' central bank: Negative impact of sanctions has been mitigated

MINSK, 19 April (BelTA) - The negative impact of sanctions has been mitigated, Chairman of the Board of the National Bank of the Republic of Belarus Pavel Kallaur said during a joint sitting of the House of Representatives and the Council of the Republic of the National Assembly of Belarus, BelTA has learned.

“Comprehensive efforts to limit systemic risks and ensure the sustainable work of banks and other financial institutions contributed to minimizing the negative impact of economic sanctions. The basic requirements for the safe operation of banks were met in 2022. The indicators characterizing the level of risk and sustainability of non-credit financial institutions also remained at an acceptable level,” Pavel Kallaur said.

He stressed that the joint work of all participants of the payment market ensured continuity of payments, reliable functioning of software and hardware complexes and information security in payment systems. This made it possible to make payments to the total tune of Br3 trillion and process over 2.5 billion card transactions for over Br120 billion.

“In general, timely and flexible response to changes in the operating environment helped maintain macroeconomic balance in the country,” the chairman of the National Bank said.

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