Lukashenka: Russia is ready to give $6 billion credit

Belarusian president has talked about Russia’s generosity during a meeting with his prime minister Mikhail Miasnikovich, according to Bielpan news agency.

“I just spoke with Russian President Dmitry Medvedev. He called me. There is an ongoing conversation with Russia to pay out the stabilizing credit, necessary to maintain Belarusian currency. In all the conversations, they (the Russians – ed.) are ready to respond to it as quickly as necessary (…). And (this may be a credit worth – ed.), for example, 3.1 billion dollars. Of course if we (wished -ed.) to sign such an agreement, “- said Lukashenko. In his view, everything that’s possible was done in order to ensure that Belarus receives this credit.

In addition, according to Lukashenko, Belarus will receive a “$ 3 billion from the sale of Belarusian goods. (…) They (the Russians – ed.) are willing to give us credit. So we get together more than 6 billion dollars.” According to the Belarusian president, that sum should be sufficient to “not only stabilize (ruble- ed.) but also to obtain the gold and currency reserves.”

Aleksandr Lukashenko stressed that the Belarusian economy is growing fast. “We must bear in mind that our economy grows. We have 12.3 percent of the GDP increase compared to the same period last year. Of course we are still lacking some means in a situation of high prices for oil, raw materials and components. ” According to Lukashenka, these are only temporary difficulties. “I would like the government and National Bank to be careful with borrowing money, because you will need to pay them back. Our goal is not living beyond our means”- he added.

Belarusian Prime Minister Mikhail Miasnikovich confirmed that, during the intergovernmental talks Russian Finance Minister Alexei Kudrin agreed to pay a loan of 3.5 billion dollars. and additional loans against goods supplied in the future. However, according to earlier press reports, on May 11th, Mr. Kudrin said that Russia is not willing to give Belarus a loan of $ 1 billion from its budget. The minister did not rule out that Belarus will receive a $2 billion credit from the stabilization fund of the Eurasian Economic Community. Mr. Kudrin referred Belarus to the IMF to obtain the rest of the money. But the Fund, after Belarus failed to abide by the agreements concerning granting the last loan, is not enthusiastic about providing further loans. Possible cooperation with the IMF, also means the need for painful reforms in Belarus. Cooperation with the Fund was not ruled out by the Belarusian Prime Minister.


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