National Bank Of Belarus: Common Currency With Russia Possible As Final Of Integration

The issue is being discussed at the central bank level in the two countries.

The National Bank of Belarus (NBB) confirms its position on the possibility of creating a single currency of Belarus and Russia as the final stage of integration, Deputy Chairman of the NBB Siarhei Kalechyts stated in Minsk on Wednesday, Interfax reports.

"We believe, and this is evidenced by the EU experience, that the introduction of a single currency can only be a logical, final stage of any integration, when all the necessary economic conditions are created, equal opportunities for economic entities," - Kalechyts said, commenting on the discussion on the creation of a single currency in the "union state" of Belarus and Russia.

He also stressed that the position of the Belarusian side remained unchanged. "We have repeatedly expressed our position on this issue, and not just as part of the work in a group (working to deepen integration - note), but in general," - Kalechyts said.

The NBB deputy chairman also believes that the creation of a single currency should be based on equal rights of central banks in monetary policy. "Any single currency should meet the interests of all parties, for which it will function and should be based on equal rights, possibilities for banks in terms of monetary policy and the currency itself," - Kalechyts said.

At the same time, he confirmed the consideration of the single currency issues at the level of the central banks of the two countries. "Any issues can be discussed, but it does not mean that someone will introduce the single currency tomorrow," - the NBB Deputy Head added.