The Supreme Council
of the Pridnestrovian Moldavian Republic

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Measures of parliamentarians to maintain the ruble exchange rate

25.03.2016

The main and the only issue on the agenda was the discussion of the proposal of the Pridnestrovian Republican Bank on changing the parameters "currency corridor" - 12,25-12,75 rubles per dollar, above the central bank offered to all indicators at the level of 14-16 rubles per dollar was at extraordinary meeting of the Presidium of the Supreme Council. The verdict of the responsible committee - is to keep the ruble exchange rate in the current range - 11,00-11,30 rubles per dollar. These options were adopted in February by the legislature in the main directions of monetary policy for the current year.

The Chief Eduard Kosovsky announced the position of the central bank. Chairman of the PRB considers that devaluation is inevitable and the delay in the adoption of this decision threatens negative consequences. Members of the presidium of the parliament hold radically different positions. According to the head of the profile parliamentary committee, Alexander Martynov, inquiries were sent to the President and the Government from the Supreme Council on how they see the resolution of the situation on the currency market. There are no responses on this point so far.

First Deputy Prime Minister Alevtina Slinchenko taking part in the meeting of the Presidium of the Supreme Council expressed solidarity with the position of the parliament's economy committee, provided that there will be taken a number of measures, including legislative measures, aimed at supporting the national currency. However, she assured that the official conclusion of the Government will go to the Supreme Council.

The Presidium members unanimously voted in favor of earlier core committee decision aimed at preserving the PMR ruble rate at the same level -11,00-11,30 rubles per dollar.

The head of profile committee Alexander Martynov commented to the media validity of the colleagues decision. According to Aleksandr Martynov, the PRB and the Government has powers, various tools and mechanisms they can use, by adopting appropriate regulations.