English

Pyotr Prakapovich dismissed as National Bank chairman

 

Alyaksandr Lukashenka, by his July 18 presidential edict, relieved Pyotr Prakapovich of the duties of chairman of the National Bank of Belarus (NBB).

The dismissal came a month after the ailing Prakapovich de facto left the NBB.

On June 20, Mr. Lukashenka appointed Yury Alymaw, first deputy chairman of the NBB board, as its acting chairman.

The 68-year-old Prakapovich took sick leave in early April and had his heart valve replaced in a surgical procedure later that month. He returned to his duties on May 18.

Nine days later, Mr. Lukashenka threatened to dismiss Prime Minister Mikhail Myasnikovich and Mr. Prakapovich if they failed to "stabilize" the situation in the country`s exchange and consumer markets.

Speaking to reporters on June 23, Mr. Lukashenka revealed that Mr. Prakapovich "will not return to the National Bank."

"Both he and the government made mistakes, and I should acknowledge that," he said, commenting on the performance of Mr. Prakapovich.

Mr. Prakapovich will continue working in the interests of the state after he completes his rehabilitation course, he said.

Pyotr Prakapovich was appointed as head of the National Bank in 1998. In January 2011, Mr. Lukashenka extended his term in office until December 31, 2015.