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Where is heading the banking system of Belarus?

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"The liquidity of Belarusian banks remained for three days — the country’s banking system went into free fall"

The Head of the NAM Pavel Latushka and the coordinator of the NAM Lena Zhivoglod told about what is happening with the Belarusian banking system, how much money Belarusians have withdrawn from deposits over the past year and how we all do not fall into the financial abyss along with the regime.

Key points:

  • Under the Lukashenka regime, our savings in banks will never be safe. The only way not to lose everything is to keep your money to yourself.

  • The country’s banking system is part of Lukashenka’s repressive machine. On July 9, the National Bank’s plan was adopted, according to which the Investigative Committee, the General Office Prosecutor and the IMF were able to track our personal finances and expenses in real time.

  • Crimes of the regime and refusal to comply with popular demands are the only reason for the sanctions. And they are already working. For example, European, American and even Russian banks are closing correspondent accounts for banks in Belarus.

  • What is happening in the banking sector — a record outflow of deposits ($ 750 million since the beginning of the year), the closure of correspondent accounts, the outflow of business clients — leads to a complete loss of access to liquidity and the failure of the banking system.

  • The regime started talking about de-dollarization. Law No. 36-З on foreign exchange regulation is a direct path to the times when people were attracted for currency under criminal charges.

  • We must build up internal economic pressure on the regime, actively participate in the NAM ATM-Exchange-Bank campaign and deprive the regime of resources, protecting our savings from it.

  • The next step is a general strike and a return to the streets. We must be ready for this.

What else can you do right now?

Sign an international petition to not-recognize Lukashenka and his government. This will help isolate the regime and cut off sources of external funding.

📩Link to the petition (for users from Belarus — only through VPN)

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