Updated at 13:48,15-08-2017

IMF puts talks with Belarus on hold due to lack of coherent support of reforms

BelarusFeed

IMF puts talks with Belarus on hold due to lack of coherent support of reforms
The International Monetary Fund suspended discussions with Belarus in anticipation of a clear demonstration of high-level support for necessary changes, IMF spokesman stated on 20 July.

William Murray, the Funds official representative, made the statement while answering a question from TUT.BY at a briefing in Washington on Thursday.

The official pointed primarily at the issues related to state-owned enterprises and municipal sector.

Hence, there will be no contacts between IMF and Belarus as part of the preparation of the loan program. The next meeting of the two sides is expected during the IMF Article IV annual mission in October.

IMF missions have visited Minsk twice this year: once at the invitation of Belarus President Alexander Lukashenko and as part of the assessment of the countrys economic policy.

Already at the beginning of the year Belarus was almost ready to sign the loan of $3 billion for 10 years at 2.28% per annum.

The process was put on pause in summer when Belarus released $1.4 billion of eurobonds and agreed on a $700 million loan with Russia, which eliminated the urgent need for additional financing.