Belarus Likely to Devalue as Reserves Dwindle, Danske Bank Says
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Belarus is likely to devalue its ruble as it runs out of foreign reserves because of an “intolerable” current-account deficit, according to Danske Bank A/S.
The former Soviet republic’s attempts to seek a loan from Russia will not succeed in maintaining the value of the Belarusian ruble, Sanna Kurronen, a Helsinki-based analyst at the bank, wrote in a research note today.