The 11th meeting of the Interbank Currency Council presided by Chairman of the Central Bank of Russia Sergey Ignatyev and CEO of the National Bank of Belarus Pyotr Prokopovich, took place in Kaliningrad on August 2, 2002. As the department of external and public relations of the Russian Central Bank reported, participants in this meeting discussed the current economic situation, the implementation of major lines of the monetary policy in Russia and Belarus, the parameters of linking the Belarusian ruble to the Russian ruble for the 4th quarter of 2002, the bilateral balance of payments and the consolidated Russian-Belarusian balance of payments in 2001.
Additionally, the parties discussed measures aimed at lifting restrictions imposed on Russian banking investments in the capital of Belarusian banks. They also considered the unification of requirement set by the Central Bank of Russia and the National Bank of Belarus for crediting legal entities and individuals. Special attention was paid to forming a payment system of the Russian-Belarusian Union, the Central Bank pointed out.
The next meeting of the Council is planned for October 2002. The Council is designed for solving practical tasks arousing from interstate and intergovernmental agreements on introducing a single currency of the Russian-Belarusian Union.