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Central banks of Belarus, Latvia to use national currencies more

The central banks of Belarus and Latvia will expand the use of national currencies to foster foreign trade. The relevant agreement was reached during a visit of a delegation of the Bank of Latvia led by its Governor Ilmars Rimsevics to Minsk on 14-16 December, it was learnt from the information department of the National Bank of Belarus.

The sides agreed to further expand the bilateral cooperation in personnel training, sharing best practices of monetary policy and information exchange, to enhance cooperation with international financial organizations. An agreement was reached to hold regular visits on the level of the heads and experts of the central banks of Belarus and Latvia.

During the negotiations with Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Piotr Prokopovich and other NBRB senior executives, the sides analyzed the results of the social and economic development of Belarus and Latvia, monetary policy of the central banks of the two countries, the efforts undertaken to mitigate the impact of the global financial crisis. The sides also touched upon the state of the Belarusian and Latvian banking systems, opportunities to expand cooperation in various banking fields. The sides remarked that over the past years the central banks of Belarus and Latvia have developed fruitful cooperation. The banks singed agreements on payment procedures and a memorandum of understanding in banking supervision. Latvian capital is represented in one of Belarusian banks; offices of three Latvian banks have been opened in Minsk.

www.belta.by

 




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