No Russian loan on the horizon

Within 2-3 weeks Moscow and Minsk are to agree the terms of the Russian loan of $1 billion.

RIA Novosti informs that with a reference to Andrei Bokarev, head of the Russian Finance Ministry’s international relations department. Before April 26 Belarusian authorities informed that they hoped to reach an agreement on Russian loan terms within a week.

Since March 2011 Belarus had been carrying on negotiations with Russia on $1 billion loan, and expected to receive a loan of about $2 billion from the EurAsEC Anticrisis Fund controlled by Russia. Moscow stated that in exchange for the loan it would demand from Minsk to implement structural reform and to lift the restrictions imposed in the foreign-exchange market.

On April 26 Finance Minister of Belarus Andrei Kharkavets stated that Russia and Belarus have virtually coordinated the series of measures that Belarus is due to carry out on its way to macroeconomic stabilization. However he has not amplified on the conditions offered by Moscow Minsk is ready to agree to get the loan, Lenta.ru informs.