Economist: Central bank may have to print more rubels
Commenting
on the National Bank's ban on foreign currency loans due to take effect on July
28, economist Leanid Zlotnikau said that the central bank can soon run out of
Belarusian cash because it will be used to replace US dollars and euros. "Banks
are to provide 3 trillion rubels for agricultural produce purchases. In
addition, the government is to provide 2 trillion for housing construction.
Without printing new money, it will run out of cash," Zlotnikau told ERB.
He
said that the National Bank would have to print money or raise the base
interest rate.
