IMF to decide on new program for Belarus in autumn

A mission from the International Monetary Fund (IMF) on May 25 finished its work in Belarus. Mission head Chris Jarvis noted that the decision on a new IMF program for Belarus would be made in autumn. Jarvis: "Within th next several months, we will continue maintaining contacts with the Belarusian aide. We plan to return hew in early autumn. We will make a new evaluation of the economic situation and make conclusions together with the authorities whether a new assistance program is needed for Belarus. If the government and the National Bank are interested in a new IMF program, we will be ready to develop a new program that will include well thought-out measures of the economic policy".

The head of IMF mission in Belarus said that the fund recommends that Belarus develop the banking and monetary sectors so that private enterprises have access to bank loans. The IMF maintains it is necessary to ease the taxation burden and to continue privatization.