People in Belarus who want to open bank accounts with foreign lenders will no longer need the permission of the country's central bank, according to new government measures published Jan. 24, Reuters reported the same day.

The move is part of Belarus's efforts to revitalize its economy, which has been in recession since 2015, the newswire said.

The government also intends to introduce guarantees on the irreversibility of privatization deals and reduce the limitation period on such agreements to three years from 10, according to the report.