Belarusbank calculates compensations for deposits made before 1991

Belarusbank calculated the sums of compensations for deposits made before 1991, chairman of the board Nadezhda Ermakova said at a stockholders’ meeting. According to her, the compensations will be paid off from the budget, but no funds have been allocated for this purpose in the 2006 budget. “Belarusbank has already solved organizational issues, in particular, concerning calculation of sums necessary to pay the compensations, and thus has fulfilled the instruction of the government”, Nadezhda Ermakova noted. The total sum is estimated at several trillions of rubles, the bank said. “All the rest is beyond the competence of Belarusbank”, she said. Nadezhda Ermakova did not specify at what stage of consideration the issue was, but said it remained relevant and would stay on agenda in Belarus. In turn, first deputy chairman of the board of the National Bank of Belarus Pavel Kallaur said that Belarus “developed various ways to pay off the compensations”. He thinks this is not a simple issue, it requires generous financing from the budget.