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Belarus Is To Strike Against Dollarization In 2019

Belarus is to ditch dollar in favor of national currencies. The government and the National Bank has developed an action plan to de-dollarize the economy.

A series of measures, including changes in the settlements in foreign currencies, as well as binding various tariffs to the process, will be taken.

To achieve that, the Civil Сode, Banking Сode and presidential decrees will be amended. Learn the details of the initiative in the video below.

Last year, both the IMF and the EDB pointed out the problem of dollarization in Belarus.

Read also: Five reasons why Belarus sticks to its Soviet industrial heritage

U.S. dollars are used quite a lot in Belarus. The foreign currency is used as a savings and payment instruments. A number of commercial entities and branches of the national economy have been allowed to use foreign currency as a means of payment.

Source: TUT.BY