Too early to expect single currency in EAEU countries

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Discussion of the transition of the countries of the Eurasian Economic Union to a single currency is not yet on the current agenda of the union, said Iya Malkina, assistant to the chairman of the Eurasian Economic Commission (EEC), at a briefing following the meeting of the Eurasian Intergovernmental Council.

The transition question is a frequently asked one. But I want to say that at the moment this issue is not on the active agenda of the EAEU, Malkina said. However, she added that, according to the EEC, the application of new approaches to the implementation of calculations is already overdue.

Nevertheless, Malkina clarified that there could be completely different solutions "and not necessarily the transition to a single currency." "In particular, let's say, in the list of possible solutions, this is the introduction of a single unit of account, and the introduction of a common crypt or digital currency on the territory of the union," she said.

The commission's experts are now working on these issues, including digital currency, Malkina said.

“Perhaps, at the end of the year, we will be ready to formulate some specific proposals, given that the member states will support them,” the assistant to the head of the EEC commission stated.

CentralasianLIGHT.org

February 4, 2023