EAEU Bank Chiefs Discuss Currency Policy in the Region

ASTANA – An advisory board on the monetary policy of the central banks of Customs Union and Single Economic Space member states recently reviewed the economic situations in those countries, the TASS Russian News Agency reported Sept. 26.

Representatives of Eurasian Economic Union (EAEU) states met at the educational and research centre of Armenia’s Central Bank in Dilijan, where the 11th meeting of the advisory body was hosted. The heads of the central banks of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia attended the meeting.

The parties discussed the economic situation in the EAEU states, financial and credit policy, macroeconomic and financial risks and the harmonising of legislation of the countries in these matters, as well as cooperation in payment systems.
“Measures to prevent risks to macroeconomic and financial stability, harmonisation of financial legislation were considered. In addition, participants exchanged views on cooperation in the field of payment systems,” a statement said.

From Kazakhstan, Deputy Chairman of the National Bank Oleg Smolyakov was involved in the meeting.

The advisory board on monetary policy is a consultative and advisory body of the national banks of Customs Union and Single Economic Space member states. The main objective of the council is coordinating currency policy, including the elaboration of unified approaches and directions of exchange rate policy to ensure the expansion of the use of national currencies in mutual settlements.

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