Belarusian banks set to redeem state bonds for population to boost their liquidity

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April 22, 2016 19:45

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

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Former civil servants as new factor in unemployment growth
October 02, 2017 12:22

According to Belstat, in August 7,600 people were dismissed, including 4,800 civil servants. Dismissals of civil servants were due to the optimisation in the public administration by up to 30%. Some civil servants would retain their job however would lose the status of a civil servant. Vacancies on the labour market are likely to reduce in number, thanks to the optimisation, the state administration would increase wages for public servants. The payroll fund for retained employees is likely to increase and some former state employees are likely to get jobs in affiliated organizations. The optimisation of the state apparatus should complete by January 1st, 2018, and some former civil servants are likely to join the ranks of the unemployed.

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