YEREVAN, September 23. /ARKA/. Chairman of board at the Eurasian Development Bank (EDB) Igor Finogenov believes launching of a common Eurasian Union currency in 2025 is quite realistic.
“Common currency is a formulae of an extremely subtle superstructure implying several components – a stable currency, a developed financial market, a united center of emissions and coordinated national financial policies. For the time being there are no obstacles on this way – there is political will, so are possibilities”, the banker said in his interview to Russian Izvestiya.
Finogenov said a common megaregulator is needed to ensure uniform rules are applied across Eurasian zone. Various currencies have been used in Eurasia, including altin, ducat, tenge, ruble, and any of them can be picked, he said. The important thing is to ensure the currency is reliable, he added.
The Eurasian Development Bank was founded by Russia and Kazakhstan in January 2006 for facilitation of market economy development in the member-states and expansion of mutual trade and economic ties. The authorized stock of the EDB exceeds $1.5 billion. Member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. –0–
