Updated at 20:54,07-12-2016

IMF Executive Board to hold post-program monitoring discussion on Belarus

The International Monetary Fund (IMF)'s Executive Board will hold a post-program monitoring discussion on Belarus later this month, Natallya Kalyadzina, the international organization's resident representative, told BelaPAN.

An IMF team led by Chris Jarvis stayed in Belarus between June 1 and 13 to assess the authorities economic policies in the framework of post-program monitoring, according to Ms. Kalyadzina.

She said that the team had drawn up a report as a result of the visit that would be discussed by the IMF Executive Board.

Belarus borrowed a total of $3.46 billion under its stand-by arrangement with the Fund in 2009 and 2010.

"When a country gets considerable access to the Fund's resources and upon the completion of the program there is no new one, there is a practice of post-program monitoring. That means that IMF staff continue assessing the economic policy more regularly then in cases where there has been no program," Ms. Kalyadzina explained.

On May 31, Belarus applied for an IMF loan of up to $8 billion.