Aleksandr Lukashenko meets with Nadezhda Yermakova to receive her report

    Belarus ' banking system is stable, Chairperson of the Board of the National Bank of the Republic of Belarus (NBRB) Nadezhda Yermakova said as she met with President Aleksandr Lukashenko on 16 January.

    The President asked about the situation in the financial market, the main tendencies of the end of 2011 and the beginning of 2012. "There have been many opinions and talks that we are going to change our financial policy. There have been many speculations. I think that the National Bank and the government have withstood this period with dignity. The time showed that these speculations were groundless," the head of state noted.

    It is for the first time in history when we have enough gold and foreign exchange reserves to maintain any Belarusian ruble exchange rate. But it should be justified, and as we have agreed, it should be free, Aleksandr Lukashenko stressed.

    Nadezhda Yermakova told the President that the situation at the Belarusian Currency and Stock Exchange and in the banking system is not bad. As of 1 January 2012, the gold and foreign exchange reserves totaled $7.9 billion in international terms.

    Banking liquidity is normal. The situation on the cash market is also stable. People sell 5-7 million of foreign currency in U.S. dollar terms more than they buy.

    Aleksandr Lukashenko instructed the NBRB to ensure sustainable operation of the Belarusian banking sector.