News / Europe

    Belarus Shoppers Panic as Ruble Collapses

    Belarusians check their numbers in the line to buy a foreign currency outside an exchange booth in Minsk, Belarus, Wednesday, May 25, 2011
    Belarusians check their numbers in the line to buy a foreign currency outside an exchange booth in Minsk, Belarus, Wednesday, May 25, 2011

    Panicky shoppers in Belarus are buying up consumer goods and scarce food supplies as fast as they can, after a sharp devaluation of the ruble failed to halt a slide in the national currency's value.

    Weeks of economic crisis have prompted many Belarusians to buy foreign currency - usually U.S. dollars or euros - to protect themselves against the ruble's plunge.  The government announced Tuesday the official exchange rate would be 4,930 rubles for $1 as of Wednesday, compared to the previous rate of 3,155 rubles, but that triggered an immediate shift in the ruble's unofficial or black-market price, which now stands at about 6,500 rubles per dollar.

    President Alexander Lukashenko unexpectedly announced Wednesday that he may release hundreds of political activists who have been jailed since street protests that greeted the president's re-election five months ago.  This is being interpreted as a signal that Mr. Lukashenko may try to barter the prisoners' freedom for financial aid from the West.

    This week, Belarusians hoping to protect their savings tried to buy foreign currency before possible further devaluations erode the value of their rubles.  Only limited supplies of foreign currency normally are available in state-regulated shops, but those currencies have now disappeared.  

    Retail prices on imported goods and many domestic supplies already have risen sharply, but consumers descended on shops Wednesday, using their ruble savings to buy any goods before prices could rise again - everything from appliances to jewelry, and foods such as rice and frozen chicken.

    Word that Mr. Lukashenko is considering a mass release of political prisoners came in a speech the president delivered in Kazakhstan, but it is unclear which detainees might be affected.  

    Dozens of people rounded up after the election-day protests in December have been convicted and sentenced, but many others are awaiting trial.  

    Among those already sentenced is opposition leader Andrei Sannikov, an opposition candidate who was reported to have the second highest vote total in the disputed presidential ballot.

    Human-rights groups and Western governments have condemned Mr. Lukashenko for the crackdown on protesters.

    Some information for this report was provided by AP, AFP.

    You May Like

    Post-White House, Obamas to Rent Washington Mansion

    Nine-bedroom home is 3 kilometers from Oval Office, near capital's Embassy Row; rent estimated at around $22,000 a month

    Red Planet? Not so much!

    New research suggest that Mars is in a warm period between cyclical ice ages, and that during Ice Age Maximum over 500,000 years ago, the red planet was decidedly ice, and much whiter to the naked eye.

    Taj Mahal Battles New Threat from Insects

    Swarms of insects are proliferating in the heavily contaminated waters of the Yamuna River, which flows behind the 17th century monument

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Vietnamese-American Youth Optimistic About Obama's Visit to Vietnami
    X
    Elizabeth Lee
    May 22, 2016 6:04 AM
    U.S. President Barack Obama's visit to Vietnam later this month comes at a time when Vietnam is seeking stronger ties with the United States. Many Vietnamese Americans, especially the younger generation, are optimistic Obama’s trip will help further reconciliation between the two former foes. Elizabeth Lee has more from the community called "Little Saigon" located south of Los Angeles.
    Video

    Video Vietnamese-American Youth Optimistic About Obama's Visit to Vietnam

    U.S. President Barack Obama's visit to Vietnam later this month comes at a time when Vietnam is seeking stronger ties with the United States. Many Vietnamese Americans, especially the younger generation, are optimistic Obama’s trip will help further reconciliation between the two former foes. Elizabeth Lee has more from the community called "Little Saigon" located south of Los Angeles.
    Video

    Video First-generation, Afghan-American Student Sets Sights on Basketball Glory

    Their parents are immigrants to the United States. They are kids who live between two worlds -- their parents' homeland and the U.S. For many of them, they feel most "American" at school. It can be tricky balancing both worlds. In this report, produced by Beth Mendelson, Arash Arabasadi tells us about one Afghan-American student who seems to be coping -- one shot at a time.
    Video

    Video Newest US Citizens, Writing the Next Great Chapter

    While universities across the United States honor their newest graduates this Friday, many immigrants in downtown Manhattan are celebrating, too. One hundred of them, representing 31 countries across four continents, graduated as U.S. citizens, joining the ranks of 680,000 others every year in New York and cities around the country.
    Video

    Video Vietnam Sees Strong Economic Growth Despite Incomplete Reforms

    Vietnam has transformed its communist economy to become one of the world's fastest-growing nations. While the reforms are incomplete, multinational corporations see a profitable future in Vietnam and have made major investments -- as VOA's Jim Randle reports.
    Video

    Video Qatar Denies World Cup Corruption

    The head of Qatar’s organizing committee for the 2022 World Cup insists his country's bid to host the soccer tournament was completely clean, despite the corruption scandals that have rocked the sport’s governing body, FIFA. Hassan Al-Thawadi also said new laws would offer protection to migrants working on World Cup construction projects. VOA's Henry Ridgwell reports.
    Video

    Video Infrastructure Funding Puts Cambodia on Front Line of International Politics

    When leaders of the world’s seven most developed economies meet in Japan next week, demands for infrastructure investment world wide will be high on the agenda. Japanese Prime Minister Shinzo Abe’s push for “quality infrastructure investment” throughout Asia has been widely viewed as a counter to the rise of Chinese investment flooding into region.
    Video

    Video Democrats Fear Party Unity a Casualty in Clinton-Sanders Battle

    Democratic presidential front-runner Hillary Clinton claimed a narrow victory in Tuesday's Kentucky primary even as rival Bernie Sanders won in Oregon. Tensions between the two campaigns are rising, prompting fears that the party will have a difficult time unifying to face the presumptive Republican nominee, Donald Trump. VOA national correspondent Jim Malone has more from Washington.
    Video

    Video Portrait of a Transgender Marriage: Husband and Wife Navigate New Roles

    As controversy continues in North Carolina over the use of public bathrooms by transgender individuals, personal struggles with gender identity that were once secret are now coming to light. VOA’s Tina Trinh explored the ramifications for one couple as part of trans.formation, a series of stories on transgender issues.
    Video

    Video Amerikan Hero Flips Stereotype of Middle Eastern Character

    An Iranian American comedian is hoping to connect with American audiences through a film that inverts some of Hollywood's stereotypes about Middle Eastern characters. Sama Dizayee reports.
    Video

    Video Budding Young Inventors Tackle City's Problems with 3-D Printing

    Every city has problems, and local officials and politicians are often frustrated by their inability to solve them. But surprising solutions can come from unexpected places. Students in Baltimore. Maryland, took up the challenge to solve problems they identified in their city, and came up with projects and products to make a difference. VOA's June Soh has more on a digital fabrication competition primarily focused on 3-D design and printing. Carol Pearson narrates.

    Special Report

    Adrift The Invisible African Diaspora