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Economy
26 November 2021, 19:19

Central banks of Belarus, Russia discuss implementation of monetary policy, union programs

MINSK, 26 November (BelTA) – Topical matters concerning bilateral cooperation were discussed at a session of the interbank currency council of the National Bank of the Republic of Belarus and the Central Bank of the Russian Federation in Moscow. Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur, Governor of the Bank of Russia Elvira Nabiullina, and other representatives of Belarus' and Russia's central banks took part in the session.

According to the Information and Public Relations Office of the National Bank of the Republic of Belarus, participants of the session reviewed the economic situation and progress in implementing the monetary policy in Belarus and Russia in 2021. Key principles and the most important parameters of the main monetary management guidelines of Belarus and Russia for 2022 were discussed.

The operation of the working group on bilateral interbank cooperation was also discussed. The group includes representatives of the central banks of the two countries. It was created for the sake of regular interaction in order to address topical tasks, including the implementation of the Union State programs, which were adopted by the Supreme State Council of the Union State of Belarus and Russia on 4 November 2021.

The interbank currency council of the National Bank of the Republic of Belarus and the Central Bank of the Russian Federation was established in November 1999. The main tasks of the council are to prepare intergovernmental agreements on banking activities, to harmonize the regulatory framework of the financial and banking sectors in order to enable equal conditions for commercial entities of the two countries, and to prepare recommendations on the development and implementation of the coordinated monetary policy and the foreign exchange policy.

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