Updated at 14:58,21-10-2016

Regular IMF Mission Starts Working in Minsk

05-10-2011, 15:49
Regular IMF Mission Starts Working in Minsk

Delegation of the International Monetary Fund will be working in Belarus on October 5-17. IMF experts, headed by Chris Jarvis, are going to monitor and evaluate the economic situation in the country.

Deputy Economy Minister of Belarus Alexander Yaroshenko said October 4 that the Belarusian authorities are waiting for the IMF mission's new specific proposals for structural changes in the national economy.

Alexander Yaroshenko notes that the Belarusian authorities do not regard the current mission of the IMF solely as a prerequisite for obtaining a new loan, BelTA informs.

"This money wouldn't be a bad thing, but it's not where the buck stops. On the other hand, it would not be out of place, as the stability of balance of payments position and the economy as a whole would never be unnecessary. But at the same time one must pay off debts," said Deputy Minister of Economy.

Alexander Yaroshenko stressed that, in case of the IMF loan, the money received wouldn't be spent on maintaining the national currency, but would be focused on paying external debts.

On September 15, Prime Minister Mikhail Miasnikovich stated that Belarus could handle economic problems even without IMF aid. Head of Government added that "it's not critical lending."

At the same time, October 3, Deputy Finance Minister Vladimir Amarin announced that the Belarus hopes to draw a $7 billion loan from the IMF. In turn, IMF official in Belarus Natalia Koliadina considers it premature to discuss Belarus' potential loaning. According to her, the IMF does not intend to hold talks on a loan with the Belarusian authorities in October.