{"id":11400,"date":"2022-04-21T16:22:48","date_gmt":"2022-04-21T13:22:48","guid":{"rendered":"https:\/\/api.pozirk.online\/longreads\/belarusian-banks-struggling-to-perform-their-functions\/"},"modified":"2026-02-24T20:29:13","modified_gmt":"2026-02-24T20:29:13","slug":"belarusian-banks-struggling-to-perform-their-functions","status":"publish","type":"longreads","link":"https:\/\/pozirk.online\/en\/longreads\/11400\/","title":{"rendered":"Belarusian banks struggling to perform their functions"},"content":{"rendered":"<p>\n <span>By Vo\u013aha Tama\u0161e\u016dskaja<\/span>\n<\/p>\n<p>\n\t * Reprinting is allowed\n<\/p>\n<p>\n\t Belarusians withdrew $270.7 million in deposits in March after Russia had invaded Ukraine. The outflow is a major challenge for the banking system and economy.\n<\/p>\n<h2> <span>Greatest outflow since September 2020<\/span> <\/h2>\n<p>\n\t Deposits fell by 6.8 percent in March. That was the steepest monthly decrease since September 2020, said Vadzim Iosub, a Belarusian economist, in a Facebook post.\n<\/p>\n<p>\n\t Deposit withdrawals totaled $303.1 million in September 2020 and $416.2 million in August 2020.\n<\/p>\n<p>\n\t Transferable deposits were not included in March\u2019s amount, and therefore actual withdrawals might be much higher, in excess of $600 million, Iosub said.\n<\/p>\n<p>\n\t D\u017amitryj Kruk, of the Belarusian Economic Research and Outreach Center, estimates that rubel and foreign-currency deposits have plunged to an equivalent of $2.7 billion since August 2020.\n<\/p>\n<p>\n\t Belarus has experienced liquidity issues since the beginning of the COVID-19 pandemic. Another problem is the low asset quality, which has decreased after the start of the Russian invasion of Ukraine with the introduction of new sanctions.\n<\/p>\n<p>\n\t Banks may find it difficult to close cash flow gaps because the terms of loans are normally much longer than the terms deposits. If borrowers fail to settle their obligations, banks may become insolvent, Kruk noted.\n<\/p>\n<p>\n\t \u201cThe bank says that if Petya wants to withdraw a deposit, he should wait for two days for Vasya to settle his debt. This is an example of a liquidity problem. But if Vasya fails to repay his debt, this is an asset quality problem. The bank will not see any money even on the horizon,\u201d Kruk said.\n<\/p>\n<p>\n\t Belarus\u2019 banking system is about to stop performing its functions, he said. \u201cBanks are contracting and their ability to lend is shrinking,\u201d he noted.\n<\/p>\n<p>\n\t \u201cIf the trend is taken to absurdity, one can imagine an economy without financial institutions. Hypothetically this is possible although this has not happened for a thousand years. On the contrary, mechanisms and financial services are expanding and improving, driving economies. Belarus has always lagged behind, now it is heading in the opposite direction,\u201d he said.\n<\/p>\n<p>\n\t &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Vo\u013aha Tama\u0161e\u016dskaja * Reprinting is allowed Belarusians withdrew $270.7 million in deposits in March after Russia had invaded Ukraine. The outflow is a major challenge for the banking system and economy. Greatest outflow since September 2020 Deposits fell by 6.8 percent in March. That was the steepest monthly decrease since September 2020, said Vadzim [&hellip;]<\/p>\n","protected":false},"author":75,"featured_media":0,"template":"","rubric":[22],"class_list":["post-11400","longreads","type-longreads","status-publish","hentry","rubric-theviewer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Belarusian banks struggling to perform their functions | Pozirk<\/title>\n<meta name=\"description\" content=\"By Vo\u013aha Tama\u0161e\u016dskaja * Reprinting is allowed Belarusians withdrew $270.7 million in deposits in March after Russia had invaded Ukraine. 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