MOSCOW, September 10. /TASS/. An agreement between the central banks of Russia and Belarus on the principles and mechanisms for harmonizing monetary policy will be concluded before December 2022, according to the joint statement of Prime Ministers of Russia and Belarus Mikhail Mishustin and Roman Golovchenko on the current development and further steps to deepen the integration processes within the Union State.
"An agreement was reached to conclude an agreement between the Central Bank of the Russian Federation and the National Bank of the Republic of Belarus on the principles and mechanisms for harmonizing monetary policy before December 2022," the document said.
It was noted that the agreement will be aimed at achieving a comparable and consistently low inflation rate, creating similar financial conditions for business entities in both countries.
According to a joint statement, the Russian Federation and Belarus have also reached an agreement on synchronizing strategic management in terms of macroeconomic policy and forming official statistical information in general. "Harmonizing legislation in this area will create a base for joint support of small and medium-sized businesses, streamline reviewing situations in the field of insolvency and bankruptcy," the document noted.
In addition, the parties agreed to harmonize approaches to ensuring information security, creating a mechanism for mutual recognition of audit results in this field, using means of cross-border integrity control and authentication in the exchange of electronic data.
Russia and Belarus also agreed to harmonize anti-money laundering and financial terrorism requirements for the financial sector.