PriorBank suspends loans in Belarus currency

PriorBank, one of the major banks in Belarus, has suspended issuing loans in Belarus rubels. The bankers say the banking system cannot function in the old way.

The bank spokesman explained the move by the need "in the present conditions" to remove loan margin limitations for the Belarusian banks and to make loans more accessible for the businesses.

But, according to unofficial sources, Belarus is experiencing the lack of the foreign hard currency. People have willingly taken cheap loans in the Belarusian rubels, changing them afterwards into US dollars or euros.