MINSK, 29 May (BelTA) – Meetings of the Interbank Currency Council of the central banks of Belarus and Russia and the Advisory Council on Foreign Exchange Policy of Central (National) Banks of the EAEU Member States will take place at the Berezinsky Biosphere Reserve in Belarus on 29-30 May, BelTA learned from the information and public relations department of the National Bank of Belarus.
The meeting of the Interbank Currency Council with the participation of Chairman of the National Bank of Belarus Pavel Kallaur and Chairwoman of the Bank of Russia Elvira Nabiullina, as well as other representatives of central banks of the two countries is scheduled for 29 May. Plans are in place to discuss economic situation in Belarus and Russia, the results of the activity of the two countries’ banking systems in Q1 2023, as well as the results of the self-assessment of the banking sector regulation by the central banks of Belarus and Russia for compliance with the basic principles of effective banking supervision.
The parties will consider the implementation of the Union State programs designed to implement the main directions of the Treaty on the Union State for 2021-2023, and also a draft agreement between the governments and central banks of Belarus and Russia on cooperation and exchange of information, including confidential one, in the supervision and (or) control of the financial market.
A session of the Advisory Council on Foreign Exchange Policy will take place on 30 May to bring together heads of central banks of Belarus, Russia, Kazakhstan, Kyrgyzstan, the deputy chairperson of the central bank of Armenia, representatives of financial market regulators of the EAEU countries. The meeting participants are set to discuss the current economic situation and the implementation of monetary policy in the EAEU member states, issues of mutual recognition of ratings, further areas of work on the formation of a common financial market.
The Interbank Currency Council of the National Bank of Belarus and the Central Bank of Russia was established in November 1999. The main objectives of the Council are to prepare inter-state agreements in banking activities, unify the legal framework of the financial and banking sectors to create equal conditions for economic entities of the two countries, and work out recommendations for the development and implementation of coordinated monetary and foreign exchange policies.
The Advisory Council on Foreign Exchange Policy of Central (National) Banks of the EAEU Member States is an advisory and consultative body. Its main purpose is to coordinate monetary policy, including the development of common approaches and directions of the exchange rate policy. The first meeting of the council was held in April 2012. At that time it was the Advisory Board on Monetary Policy of Central (National) Banks of Member States of the Customs Union and the Single Economic Space.