Aleksandr Lukashenko makes new appointments
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President of Belarus Aleksandr Lukashenko made several personnel decisions on 15 April.
Dmitry Lapko - member of the Board of the National Bank of the Republic of Belarus
Aleksandr Lukashenko also appointed Alexander Prishchits member of the Board of the National Bank of the Republic of Belarus, giving his approval to the appointment of Alexander Prishchits as Deputy Chairman of the Board of the National Bank of the Republic of Belarus.
The President believes the appointments are significant because never before so many young and promising people have been appointed executives of the National Bank. “The most important thing I want to tell you is that you will be responsible for the entire banking system together with the NBRB chairwoman,” remarked the President.
The head of state believes that both the population and legal persons trust the Belarusian banking system. “They keep their money in our banks and Cyprus has taught very many that you have to keep your money where you earn it instead of exporting it to offshores,” remarked the President.
Aleksandr Lukashenko pointed out that the role of the National Bank will become stronger primarily regarding its interaction with commercial banks, which are present in Belarus, particularly those with foreign capital.
“The talks that the National Bank has no right to interfere with the operation of commercial banks have never been welcomed in our country, generally speaking. Moreover, now all the countries have started creating mega regulators and even directly interfere with the operation of banks. When push comes to shove, as people say, then they start thinking about controlling things and primarily banks because they have seen what the situation is after an audit. But keeping things in check is difficult when the system to do it is non-existent and when the country has not welcomed such a policy, generally speaking,” said the head of state. “Thank god, we have not interfered with the operation of commercial banks much but when problems emerge, I always insist that you, colleagues, should deal with the situation instead of law enforcement agencies. Because the National Bank has the best banking specialists.”
“Therefore, my key message to you and the society is that you should keep an eye on the operation of secondary level banks – commercial banks. You shouldn’t impede their operation and should work to prevent emergencies like those that happened in the West. Therefore, I insist that the role of the National Bank in our country will only become more prominent,” remarked the President.
Aleksandr Lukashenko mentioned lending to the economy. The head of state underlined that all the borrowed money has to be returned and it is his principled view.
“I believe that banks should primarily work for the economy, and the entire country, all the people should. It is important. But there is no money out of thin air. If you take money, you have to repay it,” said the President. “A loan is a debt, you have to repay it. It is my principled position. This position of the National Bank will be maintained in the future”.
“It is necessary to have a look at the economy now, when stabilization has come. More and more executives raise the issue of loans. Certainly, we borrow very expensive money from the population, other sources. Deposits at such an interest rate are very costly for the economy,” remarked the head of state. “Therefore, pay close attention to it. With the passage of time our inflation is not that high anymore. You also should make your own contribution to keeping the inflation in check, not only the government should do it”.
“Therefore, it is necessary to support the economy, particularly now when the situation is not calm around us. As far as economy is concerned, we have problems with the main consumers of our export – the European Union and Russia. The situation is not simple, nevertheless, it is necessary to support the economy as best as we can. But not by means of some devaluations. The people won’t stand for it. Therefore, for you it is a very important task, one can say, the main task,” stressed the President.
Aleksandr Lukashenko positively evaluated the actions taken by the National Bank to keep the exchange rate of the national currency within acceptable limits in this complicated situation. “It is very important for us. It is a most important matter,” stressed the President. “If we achieve financial stability in the country, we will resolve all the issues, we will accomplish all the tasks”.
“I hope a lot that we will be able to shape the National Bank team out of people, who will hold our country dear,” noted the head of state. He stressed that in this regard he expects more from banks with foreign capital that operate in Belarus, and particularly, from the heads of the banks, who once worked in the National Bank. “For now I don’t see the work and benefits once promised. It is a matter for an independent discussion,” said the head of state.
The President said he hopes that the newly appointed NBRB specialists will not be less skilled than those, who have left the bank. “I hope for it a lot,” stressed Aleksandr Lukashenko.
The President approved the appointment of:
Taras Nadolny - Deputy Chairman of the Board of the National Bank of the Republic of Belarus
The head of state appointed:
Andrei Brishtelev - member of the Board of the National Bank of the Republic of Belarus
Dmitry Lapko - member of the Board of the National Bank of the Republic of Belarus
Aleksandr Lukashenko also appointed Alexander Prishchits member of the Board of the National Bank of the Republic of Belarus, giving his approval to the appointment of Alexander Prishchits as Deputy Chairman of the Board of the National Bank of the Republic of Belarus.
The President believes the appointments are significant because never before so many young and promising people have been appointed executives of the National Bank. “The most important thing I want to tell you is that you will be responsible for the entire banking system together with the NBRB chairwoman,” remarked the President.
The head of state believes that both the population and legal persons trust the Belarusian banking system. “They keep their money in our banks and Cyprus has taught very many that you have to keep your money where you earn it instead of exporting it to offshores,” remarked the President.
Aleksandr Lukashenko pointed out that the role of the National Bank will become stronger primarily regarding its interaction with commercial banks, which are present in Belarus, particularly those with foreign capital.
“The talks that the National Bank has no right to interfere with the operation of commercial banks have never been welcomed in our country, generally speaking. Moreover, now all the countries have started creating mega regulators and even directly interfere with the operation of banks. When push comes to shove, as people say, then they start thinking about controlling things and primarily banks because they have seen what the situation is after an audit. But keeping things in check is difficult when the system to do it is non-existent and when the country has not welcomed such a policy, generally speaking,” said the head of state. “Thank god, we have not interfered with the operation of commercial banks much but when problems emerge, I always insist that you, colleagues, should deal with the situation instead of law enforcement agencies. Because the National Bank has the best banking specialists.”
“Therefore, my key message to you and the society is that you should keep an eye on the operation of secondary level banks – commercial banks. You shouldn’t impede their operation and should work to prevent emergencies like those that happened in the West. Therefore, I insist that the role of the National Bank in our country will only become more prominent,” remarked the President.
Aleksandr Lukashenko mentioned lending to the economy. The head of state underlined that all the borrowed money has to be returned and it is his principled view.
“I believe that banks should primarily work for the economy, and the entire country, all the people should. It is important. But there is no money out of thin air. If you take money, you have to repay it,” said the President. “A loan is a debt, you have to repay it. It is my principled position. This position of the National Bank will be maintained in the future”.
“It is necessary to have a look at the economy now, when stabilization has come. More and more executives raise the issue of loans. Certainly, we borrow very expensive money from the population, other sources. Deposits at such an interest rate are very costly for the economy,” remarked the head of state. “Therefore, pay close attention to it. With the passage of time our inflation is not that high anymore. You also should make your own contribution to keeping the inflation in check, not only the government should do it”.
“Therefore, it is necessary to support the economy, particularly now when the situation is not calm around us. As far as economy is concerned, we have problems with the main consumers of our export – the European Union and Russia. The situation is not simple, nevertheless, it is necessary to support the economy as best as we can. But not by means of some devaluations. The people won’t stand for it. Therefore, for you it is a very important task, one can say, the main task,” stressed the President.
Aleksandr Lukashenko positively evaluated the actions taken by the National Bank to keep the exchange rate of the national currency within acceptable limits in this complicated situation. “It is very important for us. It is a most important matter,” stressed the President. “If we achieve financial stability in the country, we will resolve all the issues, we will accomplish all the tasks”.
“I hope a lot that we will be able to shape the National Bank team out of people, who will hold our country dear,” noted the head of state. He stressed that in this regard he expects more from banks with foreign capital that operate in Belarus, and particularly, from the heads of the banks, who once worked in the National Bank. “For now I don’t see the work and benefits once promised. It is a matter for an independent discussion,” said the head of state.
The President said he hopes that the newly appointed NBRB specialists will not be less skilled than those, who have left the bank. “I hope for it a lot,” stressed Aleksandr Lukashenko.