Expert: Black currency market if no devaluation in June
The 'black' currency market and contraband will appear in Belarus, if the National Bank does not carry a devaluation in June, prominent economist Yaraslau Ramanchuk told Euroradio.
"I can say it with 100 percent that the devaluation will take place. If it is not carried out in June, a black currency market, contraband will appear faster. Those goods will be on a black and gray market".
The National Bank banned hard currency trading till June 1. Yaraslau Ramanchuk reckons this is proof that the Central Bank faces a lack of reserves.
"The fact that the National Bank has resorted to such a radical measure proves that the situation is very critical. The exchange rate of the Belarusian rubel does not match the gold and foreign currency reserves or export revenues".
It is hard to mention an exact date. In the view of Ramanchuk, the decision depends on when Prakapovich (the head of the National Bank) meets Lukashenka.
"I can say it with 100 percent that the devaluation will take place. If it is not carried out in June, a black currency market, contraband will appear faster. Those goods will be on a black and gray market".
The National Bank banned hard currency trading till June 1. Yaraslau Ramanchuk reckons this is proof that the Central Bank faces a lack of reserves.
"The fact that the National Bank has resorted to such a radical measure proves that the situation is very critical. The exchange rate of the Belarusian rubel does not match the gold and foreign currency reserves or export revenues".
It is hard to mention an exact date. In the view of Ramanchuk, the decision depends on when Prakapovich (the head of the National Bank) meets Lukashenka.
