'Euraz' currency could be introduced within 8 - 10 years

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12:15 13.03.2009
text: "Kazakhstan Today"
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Almaty. March 13. Kazakhstan Today - The uniform currency 'euraz' could be introduced within 8 - 10 years. The chairman of the National Bank of Kazakhstan, Grigory Marchenko, said during the Internet-conference on financial portal Bnews.kz on Thursday.

"We will be able to introduce the uniform currency 'euraz' in Kazakhstan within 8-10 years, if we start the work tomorrow," Marchenko said.

"To introduce the uniform currency, the economy of the countries should be similar more or less and be of the similar level of development. When they are in different conditions, they have different duties, tax rates, currency rate and monetary and credit policy. Otherwise, such currency union will not exist for a long time," Marchenko said.

"We need to create international central bank. We formulated these proposals long time ago and our partners in the CIS countries know about them," he said.

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