Updated at 11:30,08-12-2016

Lukashenka Abolishes Board of Directors of National Bank

The president of Belarus has signed a decree abolishing the board of directors of the National Bank. The board's functions are now taken over by National Bank's management.

The decree has also introduced relevant amendments to the Statute of the National Bank of Belarus, reports Ezhednevnik newspaper.

This is the first time when a representative of the government is allowed to take part in the sessions of National Bank's board with the right of advisory vote. Simultaneously, the chairman of the National Bank or one of his deputies are allowed to take part in the sessions of the Presidium of the Council of Ministers and to have the right of advisory vote.

These amendments come into force since their official publication.