Did Lukashenka ‘Privatize’ The National Bank?

What lies behind the dismissal of Kallaur.

The intrigue surrounding the personnel changes didn't last long. The new "young" prime minister, Turchyn, has already announced that there will be no change in course. As if there was ever any expectation for a change at all.

However, the appointment of Newton-Halavchenka as head of the National Bank is something worth paying attention to.

Belarus has had prosecutors without higher legal education before, but this will be the first time a head of the National Bank with questionable economic qualifications is appointed.

This appointment serves several purposes.

Newton-Halavchenka became another prime minister who was removed when he began to establish closer ties with his Russian counterparts, as only one negotiator and contact person is needed for this track.

With Newton-Halavchenka at the helm, the National Bank will become a fully controlled organization, tasked with "injecting money into the economy" as understood by Lukashenka. This means simply pumping empty money into half-dead enterprises, ignoring the consequences such as inflation and so on.

At the same time, this is a full "privatization" of the National Bank by the agrarian-fueled dictator's family. The key is getting the leader’s money — everything else is irrelevant.

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