Snopkov: Belarus will pay for Chinese dollars in yuan
Belarus will pay for loans in Chinese dollars in yuan, First Deputy Prime Minister Nikolai Snopkov said following a report to Alexander Lukashenko on Tuesday.
“One of the main elements of cooperation with China, he said now, is finance. Here the work is going very actively and positively. We are switching to our payments on debts in yuan,” Snopkov said. He is quoted BelTA.
As the First Deputy Prime Minister stated, this currency is comfortable in the current situation. “Despite the fact that loans were initially denominated in dollars, we will pay in yuan,” he said.
Snopkov also said that the UnionPay payment system will be actively introduced in Belarus (by the initiators of its creation by the State Council and the People’s Bank of China). It is planned that in December Belarusbank has already stopped issuing payment cards of this system.
According to Snopkov, China can connect with national banks through the connection of CIPS bank transfers. It is expected that Belarusbank will be the first to join it, and then other financial institutions.
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