IMF mission has begun its work in Minsk. Belsat discussed the purpose of the IMF representatives’ visit, as well as the expectations of the Belarusian authorities of their visit with economist Alyaksandr Sinkevich.
“The International Monetary Fund works almost everywhere, in all countries where there are transition economy problems. Belarus is among these countries, and is of interest to the IMF that works for stabilization in troubled regions, in order to avoid problems in the developed countries. Therefore, the IMF has always been present here and worked even in the most troubled periods when there were serious contradictions between Belarus and the West,” said the expert.
He believes, the official Minsk counts on loans, because this year they expect a “cash gap” -lack of money for working capital in enterprises and banks. This situation is caused by the collapse of the financial and oil market in Russia.
International Monetary Fund is for the authorities of Belarus a trusted source, where you can get the necessary funds. However, the IMF always requires market-oriented reforms of recipient countries, Belarus is always resisting in this respect. The IMF is in many cases “turning a blind eye” to the actions of the Belarusian leadership, and at the same time recognizes that its recommendations, for example, have been fully implemented in Greece, but did not give positive results.
“So we can expect that this time there will be reached a compromise: the IMF would not insist on a literal fulfillment of their requirements,” said the economist.
IMF depends on the political decisions of the global players, says Alyaksandr Sinkevich. If they need a warming of relations with Belarus, the IMF will offer Belarus financial assistance and will not require market reforms.
MY, belsat.eu/en/
