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De-Dollarization to Start on 17th of January

On 17th of January, de-dollarization program will start. Individuals who had real estate bank loans in foreign currency will manage to convert it into national currency. At the same time, pre-coverage commission fee will be abolished.

De-dollarization is implemented together by government and national bank. Subside will refer to bank loan main coverage or part of it (not more than 40 000 USD) in case rest of money which has to be paid is no more than the amount existing by first of January, 2015.

The government will provide subsidizing of cheaper exchange rate loans. De-dollarization is one of the stages which is part of de-dollarization program government wants to implement. This will significantly decrease de-dollarization of economy, which on the other hand will enable the government to conduct effective economic policy and it will support its stability. 

De-dollarization will decrease the demand to the foreign curremncy, which will promote stability. It will also help to decrease the dependence on exchange rate and help population income to grow stably.