This year Belarus won’t get the sixth tranche of EurAsEC

In order for Belarus to get the sixth tranche of the loan, several parameters had to be met by Belarus.

The increase in bank lending to the economy is a controlling figure, an indicative factor for providing Belarus with the sixth tranche of the EurAsEC loan. At the same time the decision on the sixth tranche depends on the country’s implementation of a whole array of monetary, budget and tax parameters and measures taken by the Government and the National Bank to support macroeconomic stability in the country, BelTA reports.

Earlier Belarus planned to get the last $440 million tranche of the EurAsEC Anticrisis Fund loan by the end of 2013, however the session of the EurAsEC Anticrisis Fund Council scheduled for 10 December was postponed to an indefinite time in the future.

In June 2013 the EurAsEC Anticrisis Fund Council approved the letter of intent submitted by Belarus. The letter set forth the parameters that had to be met by Belarus to get the sixth tranche of the loan.

On 4 June 2011 the EurAsEC Anticrisis Fund Council authorized the allocation of a $3 billion financial loan to Belarus. Taking into account the fifth tranche, a total of $2.560 billion has been transferred to Belarus so far with a view to maintaining the balance of payments and replenishing the international reserves.