President Alexander Lukashenko At the Summit of the Heads of Member States of the Shanghai Cooperation Organization (SCO) called to decisively switch to the use of national currencies in trade, RIA Novosti reports.
He stressed that the dependence on the “famous world currency” makes the countries of association vulnerable and deprive them of competitive financial and economic advantages. The head of Belarus, meaning the American dollar, reminded that it is increasingly beginning to use as a weapon, and called to get rid of him.
For Belarus, the question of dollar dependence is especially critical. Almost all of the national debt falls on loans in foreign currency, while its influx in the republic stopped.
Two months ago, the April Decree of Lukashenko entered into force, allowing the National Bank to confiscate the currency and introduce various currency restrictions. For such actions, the regulator can go in the event of a threat of national security.
Currency revenues of the republic can dramatically cut in December, when the export of potash fertilizers through Lithuania will stop. This will lead to American sanctions that make such a route too dangerous for partners of the Belarusian Supplier.
At the same time, currency deposits of the population in Belarusian banks continue to decline. Since the beginning of the year, the republic’s credit organizations issued 744.9 million dollars from their accounts, as of September 1, they had $ 3,895 billion.