Belarus consults Chinese experts on currency market policies

09:18, June 21, 2011      

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Belarusian President Alexander Lukashenko said in Minsk Monday that he was consulting Chinese experts on currency market policies.

Lukashenko said his country hoped to hear the advices of Chinese experts on how to stabilize the country's currency market, adding he has asked the experts to assess the situation in Belarus and put forward solutions.

"A task was set for the Chinese specialists ... I asked them to evaluate the situation in the country, give their expert opinion, suggest ways out and analyze our efforts," the president told Xie Duo, an official of China's central bank.

"Their major mission was to recommend one of the strategies of dealing with the currency market, in particular, which concerns the work of the National Bank," he added.

The president praised the work of the Chinese experts, saying that his own views to a large extent chimed in.

Lukashenko also thanked the Chinese government for its prompt response to his request for Chinese experts.

At the end of May, the National Bank of Belarus devalued the Belarusian ruble by 56 percent against the U.S. dollar, causing panic across the country. People in Belarus rushed to buy goods and lined up for days at exchange offices for foreign currency, trying to protect their savings.

Source: Xinhua
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