Meeting with Russia’s Central Bank Governor Elvira Nabiullina

Belarusian President Aleksandr Lukashenko held a meeting with Russia’s Central Bank Governor Elvira Nabiullina in Minsk on 29 May.

"You are a highly respected central bank governor. Even our enemies have acknowledged that Elvira Nabiullina has done a great job steering the Russian economy through the turbulent times, especially amid the sanctions. This is an almost exact quote of our enemies. But I would like you to tell me more about the digital ruble, which is so much talked about. What is it, how will we move in this direction? But the most important thing for me is the reserve currency," Aleksandr Lukashenko stressed.

The head of state noted that now the process of de-dollarization is underway in the international economy. In this regard, he asked the opinion of the head of the Russian Central Bank how far advanced this process is. "Naturally, new reserve currencies will emerge. I keep encouraging my colleagues to keep moving forward and to be proactive in order not to lag behind. Can this process be fast-tracked? Or is it still a long process?" the President asked.

Aleksandr Lukashenko also invited Elvira Nabiullina to discuss a number of other issues that had already been discussed between the parties. "I would be happy to listen to your opinion about the problems that the central banks of Belarus and Russia are facing today. Are there any issues that still need to be addressed between us?" the head of state said.

“We meet twice a year on the currency union matters [the Interbank Currency Council of the National Bank of Belarus and the Central Bank of Russia]. We meet both in Minsk and other places. We discuss all the issues you have mentioned,” Elvira Nabiullina said.

Russia’s Central Bank Governor Elvira Nabiullina arrived in Belarus on 28 May. She said she was impressed with the nature and the country in general. “I arrived in Minsk yesterday and we took a ride. The country is neat and tidy. Everything is very well maintained, very beautiful. Fields have been planted, everything is up and running. It is simply amazing,” Elvira Nabiullina shared her impressions.

“Belarus is similar to your hometown [Elvira Nabiullina is from Ufa, the capital of Bashkortostan]. Every time when we approach Ufa on a plane I say that the nature is the same as ours,” Aleksandr Lukashenko said.