Belarus hopes to unify exchange rates in May

Belarus expects to unify the two exchange rates introduced earlier this week in May, after Minsk receives financial aid from Russia, Anatoly Moroz, head of the Belarusian central bank's foreign exchange regulation and control directorate said on Friday. "We are counting on foreign loans," Moroz said. "We expect that talks with Russia on a loan will bring a positive result." The Belarusian ruble has recently come under pressure because of a large trade deficit, generous wage increases and loans granted by the government ahead of last December's elections, when President Alexander Lukashenko won his fourth term. The central bank's foreign exchange reserves fell 20 percent in the first two months of this year to $4 billion due to the trade deficit. Russia wants to see a comprehensive economic stabilization plan before extending bailout loans to Belarus.