31 August 2011

BELARUS / RUSSIA : Russians Exploit Currency Crisis; Meat Disappears Across Borders.

                                   BLOOMBERG / A. Kudrytski

     Russians are said to be plundering Belarus supermarkets...buying all the meat...the result of a currency crisis there...after its severe 36% May devaluation and the world’s highest borrowing cost...27%.
     “Private stall owners simply go and buy meat from state-owned vendors and sell it a couple of steps away for a hefty profit,” reported an official.
     The recent removal of border/customs checkpoints has also spurred the departure of subsidized foods.