Belarus central bank sells off its office furniture for $10,000 (they need $7 billion bailout, but at least it's a start) | Countdown to Financial Armageddon | Scoop.it

As an exercise in monetary policy, it's probably not the sort of thing that would be advocated by John Maynard Keynes or Milton Friedman. Amid a disastrous economic crisis, the Belarus central bank has attempted to raise capital by selling off used office equipment and furniture. Five hundred items were put up for sale in an auction that it was hoped would raise around £10,000.

 

Amid a crippling financial crisis, Belarus is seeking a $7bn (£4.4bn) emergency bailout from the International Monetary Fund. The value of its currency has fallen sharply in recent months, while inflation has skyrocketed to over 40%, fuelling discontent with the regime of authoritarian President Alexander Lukashenko.