Belarus is planning to re-launch talks on the new loan program with IMF

27.12.2012 | Economy

This was reported by the head of the National Bank of Belarus Nadzeia Ermakova during the question-and-answer phone session held on December, 26.

She said that though the International Monetary Fund doesn’t rule out a new program, there still remains much to be done to harmonize the terms of the loan program. Future actions and plans shall be discussed in the spring of 2013, BelTA reports.

“The new program with the IMF should be considered not only as the harmonization of certain actions and loans, but primarily as a positive signal that could significantly enhance the investment appeal of Belarus,” noted Nadzeia Ermakova.

According to the head of the National Bank of Belarus, this year the Belarusan Government and the National Bank have implemented consistent measures to stabilize the economy and the currency and consumer markets in the country. “The IMF supported such actions and welcomed the further plans aimed primarily at ensuring macroeconomic stabilization of the economy, further reducing the inflation, increasing the competitiveness of Belarusian goods and improving the foreign trade balance,” Nadzeia Ermakova added.

“At present, cooperation with the IMF is carried out within the framework of regular visits of IMF missions for assessment of the situation in our country in the post-program period, including issues of monetary, foreign exchange, price and fiscal management. The IMF also provides the National Bank with technical assistance in key areas,” said Nadzeia Ermakova.

Let us recall that between January 2009 and April 2010 Belarus implemented a standby program backed by a $3.6 billion IMF loan. The Belarusan side has repeatedly stated its interest in implementing a new program with the International Monetary Fund. Before starting the new loan program with Belarus the IMF wants the firm commitment of the Belarusian authorities to a comprehensive and coherent package of policy measures and structural reforms.

Other news section «Economy»

Leanid Zaika: Minsk decided to beat the Kremlin by Iranian oil

There are no strategic goals behind the purchase of Iranian oil, believes economist Leanid Zaika.

Stanislau Bagdankevich: The living standard will continue to fall in 2017, and possibly in 2018

In 2017, Belarus will have to pay about $ 5 billion debts, which may affect the level of welfare negatively.

Leu Margolin: Industry cannot rise from its knees

Although 30 percent of Belarusian enterprises can still be revived through urgent structural reforms.

Stanislau Bagdankevich: Next year will be harsh

Stagnation will continue in 2017, the standard of living will not rise, and the banking system may experience a crisis.

Andrei Yeliseyeu: Russia cannot impose quotas on the Belarusian dairy products supply

Belarus has already agreed to reduce the level of state support to agricultural producers in the framework of the Eurasian agreements.

Leu Margolin: It is impossible to bring back the 500 dollars salary

The authorities will start pressuring businesses to make them raise salaries.

Uladzimir Kavalkin: Drop in income? Salaries are finally becoming adequate to the economy state

Income may drop even a little bit more, but it will not be anything dramatic - within a few percent, expert believes.

Leu Marholin: In 2017, the probability of economic growth is close to zero

In 2016, Belarusian authorities were expecting growth, too. However, the economy is going down.

EBRD will prepare five state companies for privatization

The Belarusian government has invited the European Bank for Reconstruction and Development (EBRD) to prepare five large state-owned companies for privatization.

Leu Marholin: We are heading full speed to the new nineties

Regression of the Belarusian economy combined with the inertness of the government will make us recall the worst years.

Uladzimir Kavalkin: Statistics on unemployment and real unemployment are poles apart in Belarus

Officially, the unemployment in our country is reducing – if judging by the number of registrations at the labor exchange; however, the number of jobs doesn’t increase in the economy.

Leanid Zaika: Decline in prices on gas should lead to the reduction in utility costs

In the situation of cheaper prices on gas Lukashenka's decree on non-cash housing subsidies looks weird.

Point of view: Defence industry in Belarus evolved from helpless to a weighty branch of economy

Recently Belarus State Military Industrial Committee announced that in the first half of 2016 its enterprises earned a net profit of $80m, thus over-fulfilling the assigned export plans by a quarter.

Leu Marholin: It looks like the Belarusian PM has got a fortuneteller

The fall of the economy will continue in 2016; we should hardly expect growth in 2017.

Why with the success abroad, Belarus’ agriculture keeps failing at home?

Poor economic conditions in the countryside, restrictions, unfair competition, inefficiency of state-owned agricultural enterprises also contribute to this ‘success story’, writes Aliaksandr Filipau.

Viktar Marhelau: We killed consumer demand inside the country

In the situation of everyone’s impoverishment administrative procedures are now being perceived painfully.

Opinion: The question of what role China can play in Belarusian development remains open

On 20 June Lukashenka met with vice-chair and president of the Chinese CITIC Group Corporation Wang Jiong; it seems especially important in light of Lukashenka’s planned visit to China in September.

Lukashenka: Only lazy people don't earn well in Belarus

All the conditions for everyone to be able to earn a decent salary have been enabled in Belarus, however, it is necessary to make some effort to get the money, assumes the president.

Leanid Zlotnikau: The government knows what to do with the economy, but will do nothing

Belarus is losing currency earnings – in the 6 months of 2016 the country earned 3 billion less than in the same period in 2015. Instead of removing the causes of the flop the state relies on magic.

Russia's Rosatom agreed to replace reactor vessel at Belarus NPP

State Corporation Rosatom has agreed to replace reactor vessel at the Astravets NPP in Belarus.

Opinions

Andrei Yahorau — Al Jazeera: “Lukashenko is irresponsible”

He said Belarus would likely face economic tightening not only as a result of the coronavirus pandemic but also a Russian trade oil crisis that worsened this past winter.
Polish experts: We say “equality” and you say “inclusion”

Will creation of local agendas be an effective tool in ensuring rights of persons with disabilities in Belarus, just as it was in Poland?
Andrei Yahorau: Everything depends on people in the regions

A social project "Equal to Equal" has been launched in Stolin district under the campaign "Agenda 50".

Special Project:

Belarus is planning to re-launch talks on the new loan program with IMF

Other news section «Economy»

Opinions

News

Special Project

Researches and studies

About us in media

Point of view

Partners

EuroBelarus:

Sections:

Topics:

Thematic blocks: