No IMF loan for Belarus — Lukashenka does not want reforms

The coveted loan of $ 3 billion is off the table again. The IMF saw no desire of Belarus leadership to implement reforms.

“Talks about the new program have been stopped. We expect clarity on whether Belarus has highest level of support for other policies, especially state-owned enterprises and utilities,” said IMF spokesman William Murray.

In spring 2017 it seemed that the program between Belarus and the IMF would be signed.

Belarus Deputy Prime Minister Vasil Matsyusheuski stated that all points had been agreed on, with only the political will remaining.

In return for the loan, the IMF demanded to stop the practice of funding loss-making industry and to raise tariffs for housing and communal services and public transport access to self-sufficiency. Belarusian authorities said that they were ready to gradually raise the payments for the population, but not yet ready for privatization of state enterprises.

Later, the need for loan disappeared.

Belarus has received a $ 700 million tranche from the EAEC and placed Eurobonds for $ 1.4 billion. The government decided to postpone unpopular reforms to the next critical moment.

Meanwhile, it is known that next year Belarus is to pay almost $ 3 billion of external debt. As a result, no reforms are planned, and the loans will be used to repay past debts.

Vitaut Siuchyk, “Belsat”, photo: Mikhail Metzel / TASS /

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