Mon, 30 June
21.1 C
Yerevan
USD: 384.32 RUB: 4.89 EUR: 450.23 GEL: 141.11 GBP: 527.56

EEU able to create single settlement currency

ALMATY, September 6. /ARKA/. The Eurasian Economic Union (EEU) is in a position now to create a regional settlement currency, including a blockchain-based currency, Eurasian Development Bank (EDB) board chairman Andrei Belyaninov said at a Eurasian Media Congress in Almaty, Kazakhstan, on Thursday.

According to him, today the situation across the Eurasian Economic Union is extremely advantageous, for which he expressed gratitude to US President Donald Trump for slapping a long string of sanctions against Russia.

“The sanctions appeared to be instrumental in our efforts to consolidate internal resources, create a single economic space, form infrastructures within this space and develop them,” said Belyaninov.
He said the EDB is currently a bit aggressive across EEU, has very ambitious plans and wants to make itself known, but this is hampered by a lot of incompetent and illiterate judgments about the current situation in the economic markets.

‘We are in a position to create a regional settlement currency. I believe that it should be the ruble, although there are other points of view, for example, a blockchain-based currency,’ said Belyaninov.

“Sanctions are imposed on us, but there are crazy opportunities. We should consider the EEU not only from the point of view of cooperative ties. We are entering a stage where we are able to generate ideas, although we are still swallowing the dust of the departing train, but we need to get ahead of events and look at the future,’ concluded Belyaninov.

The Eurasian Media Congress, organized by the EDB, is taking place near Almaty on September 5-8. About 60 representatives of the leading media from the EDB member states have gathered for the event. The plenary session is devoted to the coordination of macroeconomic policy, the use of national currencies in mutual settlements, as well as to the investment interaction of the EDB countries and the role of development institutions in EEU.

A number of panel discussions are also planned to discuss the development of the partnership between the EEU and other integration blocs.

The Eurasian Development Bank (EDB) is an international financial institution established by Russia and Kazakhstan in January 2006 to promote development of the market economy of the participating countries, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of the EDB is $7 billion. The participating states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. –0–

spot_img

POPULAR

ADB lowers Armenia’s economic growth forecast for 2025 to 5%, 4.7% expected in 2026

The Asian Development Bank has lowered Armenia's economic growth forecast for 2025 to 5%, said Don Lambert, ADB Country Director for Armenia.

Armenia’s top 5 banks by asset size for Q3 2023

According to ARKA news agency's quarterly bulletin 'Banks of Armenia,' the top 5 commercial banks of Armenia by asset size as of 30.09.2023 were Ardshinbank, Ameriabank,  Armbusinessbank, Acba Bank and Inecobank

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

ADB forecasts inflation in Armenia at 3% in 2025 and 2.8% in 2026

The Asian Development Bank (ADB) forecasts inflation in Armenia at 3% in 2025, said Don Lambert, Director of the Bank’s Resident Mission in Armenia.

Byblos Bank Armenia becomes CaseKey strategic partner

Byblos Bank Armenia has become the strategic partner of the CaseKey Business Case Competition, emphasizing the importance of continuous investment in promising educational programs.

LATEST NEWS

spot_imgspot_imgspot_img