As Russia reduces interest rates, Belarusian banks may improve foreign currency liquidity
Some Russian banks have cut rates on foreign currency deposits for the population to less than 1% per annum with a one-year maturity period. This measure may attract Russian investors, who will be looking for alternative options to accommodate available funds, so as Belarusian banks offer 4% per annum. Even though Belarus plans a further reduction in interest rates on foreign currency deposits, the Finance Ministry may issue additional government foreign currency bonds for individuals, and Belarusian banks may arrange bond issues with one or two year maturity period at 5% per annum. The public debt servicing costs may also reduce thanks to interstate commercial loans at a lower rate. If Belarusian banks improve foreign currency liquidity, they may lower rates on corporate foreign currency loans to 10% per annum or less.
The Belarusian authorities have launched a discussion on the moratorium or abolition of the death penalty under the pressure of Belarusian human rights activists and international community. Apparently, the authorities are interested in monitoring public sentiments and response to the possible abolition of the capital punishment. The introduction of a moratorium on the death penalty would depend on the dynamics in Belarusian-European relations, efforts of the civil society organisations and Western capitals.
In Grodno last week, the possibility of abolishing the death penalty in Belarus or introducing a moratorium was discussed.
The Belarusian authorities are likely to continue to support the death penalty in Belarus. During his rule, President Lukashenka pardoned only one person, and courts sentenced to death more than 400 people since the early 1990s. Over the past year, Belarusian courts sentenced to death several persons and one person was executed.
There are no recent independent polls about people’s attitude about the death penalty in Belarus. Apparently, this issue is not a priority for the population. In many ways, public opinion about the abolition of the death penalty would depend on the tone of the state-owned media reports.
That said, the Belarusian Orthodox Church and the Roman-Catholic Church stand for the abolition of the capital punishment, however their efforts in this regard only limit to public statements about their stance. Simultaneously, the authorities could have influenced public opinion about the death penalty through a focused media campaign in the state media. As they did, for example, with the nuclear power plant construction in Astravets. Initially unpopular project of the NPP construction was broadly promoted in the state media, and eventually, according to independent pollsters, was accepted by most population.