Belarus to Get 700 Million Dollars More This Week, IMF

29.03.2010 12:47
Архив Редакция

Resident Representative of the International Monetary Fund in Belarus, Natalia Kolyadina, reported that the IMF would transfer the recent tranche of stand-by program credit of $ 700 million dollars this week. The Fund took a positive decision on the results of the fourth program implementation review at the end of last week.

«The directors noted that all measures, provided by the program to ensure macroeconomic stability in Belarus, had been fulfilled», the IMF’s resident representative said, BelTA informs.
According to Natalia Kolyadina, in the review, the IMF experts informed the management of the Fund that the Belarusian authorities «began more flexible use of exchange rate regime, and soon no «strong» measures such as devaluation are expected in this part». Government measures are quite adequate», the representative of the IMF said.
The IMF expects further changes in the financial sector of Belarus

As Natalia Kolyadina informed, the IMF is satisfied with Belarusian authorities’ adjustments in the fiscal sector and current monetary policy, which gave the possibility to minimize the consequences of «oil shock», but showed concern with the situation of current account deficit.
«We expect the Belarusian authorities to continue the changes. During the mission’s work we scheduled to start negotiations on the future program of Belarus and the IMF. We’ll focus on structural changes. It’s obviously, that it will take several missions», the IMF’s resident representative in Belarus said and informed that the next mission of the Found will begin its work in May.
Belarus received the first tranche of the IMF loan of $ 800 million in January 2009. The second tranche was received in July — there were about 680 million dollars. In October 2009, Belarus received the next tranche of the International Monetary Fund’s loan in the amount of 699.5 million dollars. The fourth tranche of the IMF loan in the amount of more than 688 million dollars was received in December of last year. Thereby, the total amount of credit granted by the IMF amounted to about 2.87 billion dollars with a total allocation of funds in the amount of about 3.52 billion dollars.

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