Lukashenko affirms regulator’s right to impose temporary FX restrictions in Belarus
<p> MINSK, Apr 20 - PrimePress. The National Bank of Belarus and the government of Belarus have been granted the right to introduce FX restrictions for up to one year if the economic security of Belarus and the stability of its financial system are endangered. This decision is enshrined in President Lukashenko’s ordinance #154 of April 20, 2021, informed the president’s press service. </p> <p> </p> <p> Ordinance #154 repeals other two presidential ordinances - #240 of May 12, 2009 “On some issues in the field of foreign exchange regulation” and #301 of July 31, 2018 “On Abolition of compulsory sale of foreign currency proceeds”. The legislation is thus brought in line with Law No. 36-Z of 30 June 2020 "On Amendments to the Laws on Foreign Exchange Regulation and Currency Control". </p> <p> </p> <p> The law simplifies procedures governing FX transactions and specifies the rules of FX legislation to avoid different interpretations, the press service said. End </p>
2021-04-21
Primepress
Lukashenko affirms regulator’s right to impose temporary FX restrictions in Belarus
MINSK, Apr 20 - PrimePress. The National Bank of Belarus and the government of Belarus have been granted the right to introduce FX restrictions for up to one year if the economic security of Belarus and the stability of its financial system are endangered. This decision is enshrined in President Lukashenko’s ordinance #154 of April 20, 2021, informed the president’s press service.
Ordinance #154 repeals other two presidential ordinances - #240 of May 12, 2009 “On some issues in the field of foreign exchange regulation” and #301 of July 31, 2018 “On Abolition of compulsory sale of foreign currency proceeds”. The legislation is thus brought in line with Law No. 36-Z of 30 June 2020 "On Amendments to the Laws on Foreign Exchange Regulation and Currency Control".
The law simplifies procedures governing FX transactions and specifies the rules of FX legislation to avoid different interpretations, the press service said. End