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Belarus yet to decide on new IMF program

The advisability of opening a new IMF program for Belarus will depend on the state of things on foreign markets, Belarus Finance Minister Andrei Kharkovets told media on 9 December.

Andrei Kharkovets reminded that the existing IMF-sponsored program had been brought about by Belarus’ need for additional financing due to changes on foreign markets. “If the foreign markets are more comfortable in the future, if there are more positive tendencies, the need for additional external funding will be lower,” he said.

The Finance Minister also remarked that Belarus will not need a new IMF program if the country can secure an inflow of foreign direct investments after putting together projects for them. In his words, foreign banks show a lively interest in crediting the Belarusian economy. Thus, the decision on whether Belarus needs to continue the IMF program will be decided taking into account the combination of these factors.

Speaking about the ongoing IMF program, Finance Minister remarked: “We expect the IMF program to be implemented in full. We do our best to make it happen and expect all tranches on time”.

 

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