President of Belarus Alexander Lukashenko ordered the closing of some foreign media on Friday, particularly Russian, which he blames for creating “hysteria” escalating the communist country’s currency crisis.
“There is a lot of hysteria in Russian media. I am also watching for our foreign media here … I do not name them lest their ratings should be increased, but [try] your best to make sure those media are no longer on our soil,” Lukashenko said at a government meeting on the currency crisis and the consumer market, according to state-run media reports.
Belarus has been suffering its worst economic downturn since last December’s controversial presidential election with its currency reserves depleted and the National Bank devaluing the country’s ruble by 36 percent against the U.S. dollar last Tuesday.
Media dubbed the day the devaluation was announced “black Tuesday.”
Consumers have rushed to shops to spend their rubles on goods fearing further devaluations. There were also long lines at currency exchange centers of people trying to purchase euros and dollars. The government has imposed tight controls on sales of hard foreign currency.
Lukashenko has also threatened to dismiss the government if it does not handle the situation in the country.
Sources of funding are drying up for Lukashenko. In the wake of his regime’s brutal crackdown on demonstrations during last December’s elections, and the continued suppression of the opposition, the European Union and the United States have imposed sanctions on the president and several top Belarusian officials. Other international institutions, such as the Western-led International Monetary Fund, are also considering limiting funding to Belarus.
Belarus has turned to Russia for a badly needed $3 billion loan. The former Soviet country has for years relied on Russia for financial help.
In turn, the Kremlin insists that Lukashenko sell off some state assets, including refineries, machinery, and chemical factories.
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