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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 plunge1. 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 immediate2 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 activists3 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 barter4 the prisoners' freedom for financial aid from the West.
This week, Belarusians hoping to protect their savings5 tried to buy foreign currency before possible further devaluations erode6 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 descended7 on shops Wednesday, using their ruble savings to buy any goods before prices could rise again - everything from appliances to jewelry8, 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 affected9.
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 opposition10 leader Andrei Sannikov, an opposition candidate who was reported to have the second highest vote total in the disputed presidential ballot11.
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1 plunge | |
v.跳入,(使)投入,(使)陷入;猛冲 | |
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2 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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3 activists | |
n.(政治活动的)积极分子,活动家( activist的名词复数 ) | |
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4 barter | |
n.物物交换,以货易货,实物交易 | |
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5 savings | |
n.存款,储蓄 | |
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6 erode | |
v.侵蚀,腐蚀,使...减少、减弱或消失 | |
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7 descended | |
a.为...后裔的,出身于...的 | |
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8 jewelry | |
n.(jewllery)(总称)珠宝 | |
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9 affected | |
adj.不自然的,假装的 | |
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10 opposition | |
n.反对,敌对 | |
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11 ballot | |
n.(不记名)投票,投票总数,投票权;vi.投票 | |
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12 condemned | |
adj. 被责难的, 被宣告有罪的 动词condemn的过去式和过去分词 | |
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