IMF mission to continue negotiations concerning credit with Belarus

The mission of the International Monetary Fund will continue negotiations with the Belarusian authorities about a possible allocation of a stabilizing credit. The Belarusian representative office of the IMF has informed BelaPAN about it.  The IMF mission headed by a representative of this financial organization Neven Matthews has been working in Minsk since October 27. It had been supposed to finish its work by November 6. The Fund’s mission will continue discussing it with the country’s authorities next week. A deputy director of the European department of the IMF Yuh Kakkonen will arrive in Minsk on November 8, reports the IMF Office in Minsk. The National Bank of Belarus asked the IMF for a stabilizing credit of 2 billion dollars at the end of October.
The bank claims that the credit is required to fill the gold and exchange currency reserves. The administration of the IMF confirms that Belarus did ask for a credit and notes that the world financial crisis has influenced the Belarusian economy and its access to foreign financing in a negative way. At the same time, changes in terms of trade have exercised a negative influence on the country’s balance of payment.  Let us remind you that Russia will also allocate a 2 billion dollar stabilizing credit to Belarus.