Kremlin set to ratify trilateral common Monetary Policy Principles Pact

President Dmitry Medvedev has set in motion the ratification process of the Monetary Policy Principles Pact, signed by Belarus, Kazakhstan and Russia, the members of the Single Economic Space (SES). Specifically, the document obliges its signatories to aim their monetary strategies at gradual harmonization of economic policies and boosting confidence in members’ national currencies to ensure mutual convertibility and stability.

These measures are to further improve payment settlement relations based on the extensive use of the treaty signatories in their foreign economic activities and formation of an integrated currency market among member states.