OREANDA-NEWS. August 01, 2011. The Government of Belarus is intent upon close and meaningful cooperation with the National Bank under new Chair of the Board Nadezhda Yermakova, Prime Minister of Belarus Mikhail Myasnikovich said as he presented her to the employees of the National Bank.

“As the Prime Minister I guarantee the determination of the Government and government agencies to engage in constructive and meaningful cooperation for the development and prosperity of Belarus,” the Premier underlined.

Mikhail Myasnikovich noted that Nadezhda Yermakova is well known in the banking sector. She is an accomplished statesperson and community leader, a high level professional, a person devoted to the state ideology and policy. “She has passed all the steps of the career ladder from a credit inspector to the head of a bank, she has been member of the Council of the Republic of the National Assembly of Belarus of all the four convocations; she is a distinguished economist awarded with the Medal of Honor,” the head of government said. For 12 years Nadezhda Yermakova has chaired the Belarusian Union of Women.

Those who work in the banking sector are well familiar with her style and methods of work. She has been an active participant and initiator of drastic and systemic reforms of Belarus’ banking sector and monetary policy. “Over a short phase of history a brand new banking system has emerged; Nadezhda Yermakova has initiated and actively participated in the process,” Mikhail Myasnikovich said. “With her active and direct participation the banking sector has updated its agenda and became a real engine of the country’s economic growth,” he added.

Nadezhda Yermakova is credited for turning Belarusbank into a strategic, dynamic, reliable and modern bank. “She always has a clear and grounded stance, she is fast to make decisions, her work is consistent and logical,” Mikhail Myasnikovich said. In his words, the new Chair of the Board of the National Bank is the kind of manager who can work in a team, attentive to people and their suggestions, thoughtful and convincing. “At the same time Nadezhda Yermakova is modest and tactful, which is very important for a top official,” the Premier said.

The head of Government noted that there is no surprise that women come to play a greater role in the global financial system. In the post-crisis environment professional intuition, fast response and consistency become crucial for decision-making. Belarus voted for Christine Lagarde to become the managing director of the International Monetary Fund. “Her election and your appointment confirm that our country adopts world’s best approaches to electing the financial top management,” Mikhail Myasnikovich said.

The Belarusian Government has no doubts that the difficult situation on the Belarusian currency market is temporary, Mikhail Myasnikovich said.

“The Government has no doubts that these are temporary difficulties and we can overcome them by working smoothly together with the National Bank,” stressed the head of Government. He remarked that the present state of affairs on the financial market troubles not only businessmen and executives but virtually every citizen of the country.

Mikhail Myasnikovich also added that the Head of state had given instructions on all the aspects of monetary management, the currency policy, the anti-inflationary policy and the strategy for the banking industry development. An extended session of the NBB Board is supposed to take place in the second half of August 2011. Alexander Lukashenko is expected to take part in the session. The session will discuss all the aspects of the banking industry operation in detail. Tasks for the banking industry and the country as a whole will be voiced there. The Prime Minister remarked that the Government and the National Bank should deal with the bulk of the accumulated problems if only partially before the aforementioned government session.

The Premier wished Nadezhda Yermakova success and expressed confidence that her appointment will be welcomed by the banking system and the country in general.

In turn, Nadezhda Yermakova remarked that as of that day she would begin working productively as the head of the National Bank. “I believe that we should work as part of the country’s overall system, part of the common economy since the economy and the banks are inseparable,” she said. “Government programs are aimed at it. Everyone should take part in fulfilling government programs. This way we will advance”. Nadezhda Yermakova added she was open to meetings and discussions and proposals from representatives of the NBB’s central administration. She also remarked that she was planning to hold a meeting with heads of commercial banks next week in order to hear out their views on future development. “We will meet next week in order to hear views on future work,” she concluded.