IMF representative Yuha Kakkonen arrives in Minsk

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The deputy director of IMF European Department Yuha Kakkonen has arrived in Minsk today, on November 8. The Belarusian Representative office of the fund has informed BelaPAN about his participation in the negotiations concerning the possibility of allocation of a stabilizing credit to Belarus. The IMF mission has been working on the issue since October 27. It is headed by a representative of the IMF in Russia Neven Matthews. Experts had been planning to finish their work by November 6 but it was decided to continue consulting. The National Bank of Belarus asked the IMF for a 2 billion dollar stabilizing credit at the end of October. The National Bank claims that the credit is necessary to fill the country’s gold and exchange currency reserves. The IMF administration confirms that Belarus asked 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. The IMF has not announced the sum of the possible credit yet.