Belarus reveals IMF deal obligations

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The obligations that Belarus took in the framework of the deal with the Internationa Monetary Fund (IMF) over a standby loan have been revealed. A relevant letter signed by Belarus prime minister Sergei Sidorski and National Bank chairman Piotr Prakapovich has been posted on the web site of IMF. "The government has met a structural indicator as of the end of March 2009 regarding the liberalization of prices and has raised the prices for utility services, has reduced wages in the public sector, has refused from the practice of putting deposits of central and local governments in commercial banks, and has abolished a maximum interest rate for the loans in Belarusian rubels that are issued to the corporate sector", says the letter.

The authors also inform about government's intention to maintain a stringent policy in the wages sector. A decision was taken not to raise wages in the public sector before September 2009.

The government is looking for a strategic investor that will acquire the controlling package of shares from two state-owned banks -- Belpromstroibank and Belinvestbank as well as minotiry packages of shares from Belarusbank and Belagroprombank. The government also plan to table a legislation draft on privatization to the parliament by September 30, reports Belapan.