Tiraspol, 9 June. /Novosti Pridnestrovya/. The management of the Pridnestrovian Republican Bank met independent European experts from the Berlin Economics company.
Having studied the PMR's macroeconomics, the company's expert, Dr Ricardo Giucci, has presented a report on Pridnestrovie's exchange rate policy proceeding from which he proposes variants to handle the existing exchange rate crisis.
The experts voice their common opinion on the necessity of devaluing the Pridnestrovian rouble. They have come to this conclusion based on the information on exchange rates in the countries which are the PMR's main trading partners, on exports and imports and the rouble's effective rate.
For example, Ukraine, Moldova and Russia devalued their national currencies to enhance the macroeconomic situation and increase the competitiveness of their goods.
It is noted to that end that the rouble's high nominal exchange rate against the currencies of Pridnestrovie's trading partners has decreased the competitive ability of Pridnestrovian goods and boosted shopping trips to Ukraine and Moldova.
According to Riccardo Giucci, there is no alternative to devaluation. He believes it is necessary to devalue the rouble as soon as possible and be ready, at the same time, to cope with the negative implications which may arise.
As is reported by the PRB's public relations department, the position of Berlin Economics experts on the rouble's exchange rate completely coincides with that of the Pridnestrovian central bank.
Taking account for the shortage of currency reserves, or rather their absence, the company's experts makes a clear-cut conclusion on the necessity of a single-action rate adjustment.
Another expert, Professor Dr Matthias Lücke, agrees with his colleague's conclusion on the necessity of a single-action rate adjustment.
The independent European consultancy Berlin Economics successfully provides its services in Moldova, Ukraine, Belarus and the Russian Federation.
