New American currency (the Amero) coming
Belarus ruble sinks 20 percent, shocking citizens
Yuras Karmanau (Friday 1/2/09)
Yuras Karmanau (Friday 1/2/09)
National Bank in Belarus devalues currency 20 percent to get International Monetary Fund (IMF) loan; citizens shocked.
MINSK, Belarus (AP) -- Belarus' central bank sharply devalued the Belarusian ruble Friday, allowing the currency to plunge 20 percent to help stop the hemorrhaging of its reserves. The move came as an unwelcome shock to ordinary citizens.
The National Bank said the devaluation was aimed at raising the competitiveness of the Belarusian economy, which has been battered by the global financial crisis. It also was a condition of a $2.5 billion loan from the IMF announced Wednesday. More>>
MINSK, Belarus (AP) -- Belarus' central bank sharply devalued the Belarusian ruble Friday, allowing the currency to plunge 20 percent to help stop the hemorrhaging of its reserves. The move came as an unwelcome shock to ordinary citizens.
The National Bank said the devaluation was aimed at raising the competitiveness of the Belarusian economy, which has been battered by the global financial crisis. It also was a condition of a $2.5 billion loan from the IMF announced Wednesday. More>>
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