EEU needs coordinated monetary policy

According to Dmitry Pankin, this year's events have showed that the countries in the region need coordination in the area. "I think this year has demonstrated the necessity for a coordinated monetary policy," he said. Speaking about the economic situation in the region, the Chairman of the EDB Board noted that if Russia pursues a floating exchange rate policy then Kazakhstan or Belarus finds it hard to keep the exchange rate fixed.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, the Russian Federation, and Tajikistan, BelTA reports.