Dictatorship begs for credit from IMF

On May 31 the government and the National Bank of Belarus have applied to the International Monetary Fund (IMF) for a stabilisation loan.

The consultations on the program of action of the Belarus’ government and the National Bank would be held within the framework of the IMF mission, which is to start its work in Belarus on June 1, 2011.

During the work of the mission issues of the current economic situation in Belarus would be considered, measures taken by the government and the National Bank of Belarus to stabilize the situation in the domestic foreign exchange market would be discussed. Besides, the chances for support by the IMF of the macroeconomic policy pursued by the Belarusian government and the National Bank are to be estimated. The work of the IMF mission in Belarus is to be finished on June 14, 2011.