Belarusian banks set to redeem state bonds for population to boost their liquidity
As of April 2016, Belagroprombank started to redeem government foreign currency bonds for individuals. Bonds with more than three-year maturity period are not popular among the population, as they do not allow early redemption. By redeeming bonds, the banks will create secondary market for bonds, which will enhance their liquidity. It is anticipated that other banks would follow this example, quotations would grow to the nominal value, new bonds would be issued with lower maturity, and bank charges on these bonds would reduce. If bonds’ maturity period decreases to 1.5 years with yield at least 5% per annum, they may become an alternative to currency deposits and increase the overall currency inflow to refinance state liabilities.сс
The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.
Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.
Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.
In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.