Updated at 15:34,14-12-2017

Belarus may borrow more than $3bln from IMF

BelarusFeed

Minsk will continue to discuss the credit program for the IMF. The sum of the loan can be bigger than the previously voiced $3 billion, Pavel Kallaur, the head of the National Bank said in the House of Representatives on Tuesday.

In November, Belarus will welcome technical missions from the World Bank and the International Monetary Fund.

“In addition to the quota that is defined for Belarus, the amount of funding is determined by other factors: the state of the balance of payments for the year and the program of events. This figure may vary from 3 to 3.4 billion dollars”, the official explained.

It is expected that Belarus will receive at least $3 billion for ten years at 2.28% per annum.

The lenders will approve the credit program on condition of liberalization of the Belarusian economy. However, some parts of the program have not yet been fully agreed.