Belarus asks for IMF credit

Belarus asked IMF for a credit to stabilize its economy, informed Bielpan news agency. An official motion to receive a loan was filed by the Belarusian MFA on May 31st. The consultations between the National Bank and IMF are to be held in Minsk between June 1st and 14th, in order to prepare a set of economic reforms. The IMF is also expected to offer some information on the possible credit. Belarus has previously received a $3.46 billion credit, as a part of an IMF stand-by program, in 2009-2010.

The representatives of the Fund stressed numerous times the need to introduce economic reforms in Belarus. – An action plan for the economic realm and a program of ambitious trustworthy reforms is necessary – said Chris Jarvis, a head of the IMF mission to Belarus on April 6th.

Stanislav Bakhdankievich, a former head of the National Bank, told Belsat that Belarus has a chance to obtain the credit, but only on condition of radical reforms and economic liberalization.

On May 12th, during a visit to Mokhylevo, president Lukashenka said that Belarus is under pressure from the abroad and the “fifth column” to introduce economic reforms. – They suggest reforms which could lead to destruction of Belarus. – said Lukashenka. But on May 17th, Belarusian prime minister, Mikhail Miasnikovich informed that he does not exclude the possibility of asking IMF for credit. Miasnikovich also met with former head of the National Bank, Stanislav Bahdankievich, a person associated with democratic opposition, and offered him cooperation. Bahdankievich presented his opinion on the necessary reforms, but rejected offer of direct cooperation with the authorities.


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