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Belarus financial system handling foreign debt well

MINSK, 6 June (BelTA) – The financial system of Belarus is handling the repayment of the foreign debt well, Chairwoman of the Board of the National Bank of the Republic of Belarus (NBRB) Nadezhda Yermakova said on 6 June during a phone-in session arranged by the Narodnaya Gazeta newspaper.

Nadezhda Yermakova said that foreign debt payments are on schedule. The official said all the transactions scheduled by the government and the NBRB to pay the foreign debt had been made. Besides, about $500 million has been used to repay debts to Belarusian banks ahead of schedule. “We believe it is better to have fewer debts to see a clean situation. When you owe less, you can plan your expenses more frugally or can work to earn money and form gold and foreign exchange reserves,” stated Nadezhda Yermakova. The NBRB had the capability to do it. “We bought $1.6 billion worth of foreign currency via the currency exchange. The NBRB buys foreign currency from individuals directly via currency exchange offices. The National Bank also gets revenues from foreign currency deposits,” said the NBRB head. Besides, $1 billion has been transferred into the contingency reserve.

The official also mentioned the progress in auditing Credexbank. “The work goes on, the audit is in progress. We have found no violations in what we have checked already,” said the official. The audit continues.