Belarus

After seven decades as a constituent republic of the USSR, Belarus attained its independence in 1991. It has retained closer political and economic ties to Russia than any of the other former Soviet republics. Belarus and Russia signed a treaty on a two-state union on 8 December 1999 envisioning greater political and economic integration. Although Belarus agreed to a framework to carry out the accord, serious implementation has yet to take place. Since his election in July 1994 as the country's first president, Aleksandr LUKASHENKO has steadily consolidated his power through authoritarian means. Government restrictions on freedom of speech and the press, peaceful assembly, and religion remain in place.

Economical characteristics

 * Currency: Belarusian ruble (ISO code: BYR)
 * Central bank discount rate: 12% (31 December 2008)
 * Commercial banks lending rate: 8.55% (31 December 2008)
 * Stock of money (M1): $4.872 billion (31 December 2008)
 * Quasi money (with M1 makes M2): $8.784 billion (31 December 2008)

Notable events:

 * Banking crisis: 1995

Links

 * Belarus on Wikipedia
 * Central bank of Belarus
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile
 * VTB Says Belarus Bound for Meltdown, Ruble Plunge, as Locals Hoard Fridges by Emma O’Brien and Alex Kudrytski, May 2011
 * Belarus Freezes Food Prices, Reuters, June 2011