Russia’s loan has not saved Belarus’ gold reserves
In September 2014, Belarus’ gold reserves slumped by USD 284.9 million to USD 6 billion.
Belarus has received a USD 1.55 billion loan from the Russian government, which she used to repay a previously raised bridge loan from VTB Bank. Belarus’ international reserves are expected to further languish due to negative trends on the Russian market reducing foreign currency earnings of Belarusian exporters. The last tranche from the EurAsEC Anti-Crisis Fund’s loan might be disbursed. The government might offer the population to buy the next issue of state foreign currency bonds, and interest rates on foreign currency deposits might go up. The Belarusian banking system may experience an outflow of Russian investors’ deposits due to an increase in the interest rates on foreign currency deposits in the Russian banks.
President Lukashenka continues to rotate staff and rejuvenate heads of departments and universities following new appointments in regional administrations. Apparently, new Information Minister Karliukevich could somewhat relax the state policy towards the independent media and introduce technological solutions for retaining control over Belarus’ information space. New rectors could strengthen the trend for soft Belarusization in the regions and tighten the disciplinary and ideological control over the student movement in the capital.
President Lukashenka has appointed new ministers of culture and information, the new rector of the Belarusian State University and heads of three universities, assistants in the Minsk and Vitebsk regions.
The new Information Minister Karliukevich is likely to avoid controversial initiatives similar to those former Minister Ananich was famous for, however, certainly within his capacities. Nevertheless, the appointment of Belarusian-speaking writer Karliukevich could be regarded as the state’s cautious attempt to relax environment in the media field and ensure the sovereignty of national media.
The Belarusian leadership has consolidated the trend for mild Belarusization by appointing a young historian and a ‘reasonable nationalist’, Duk as the rector at the Kuleshov State University in Mogilev. Meanwhile, while choosing the head of the Belarusian State University, the president apparently had in mind the strengthening of the ideological loyalty among the teaching staff and students at the main university in order to keep the youth movement at bay. Previously, Korol was the rector of the Kupala State University in Grodno, where he held purges among the disloyal teaching staff.
The trend for the renewal of mid-ranking executives and their rejuvenation has confirmed. The age of the Culture Minister and three new rectors varies from 39 to 44 years old.