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Minsk looking for rapprochement with IMF on new loan program

Belarus continues to interact with the International Monetary Fund (IMF) on the issue of a new loan program, looking for ways to bring approaches closer, Deputy Chairman of the Board of the National Bank of Belarus Dmitry Kalechits said on Friday responding to a question from TASS.

"We continue to cooperate with the Fund, we exchange information on the development of the economic situation in the republic. The Fund’s mission that works in Belarus actively interacts with our specialists, monitors the situation, indicates what risks it sees in the development of the situation, and what measures can be taken," he said. "In turn we tell them how things are going in the economy, what risks we see," he added.


According to him, "there is a normal exchange of information," and so far Minsk doesn’t plan "active additional steps in cooperation with the IMF". "We will look at how the situation is developing. We have a large block of questions from the point of view of technical assistance, we will work with them on monetary policy," he added.

Regarding the possibility of a new loan from the IMF, Kalechits explained, "This is not a procedure of one day." "This issue should be discussed, it is necessary to find points of convergence in views on the development of the economy, understanding of risks, as well as measures to develop further," her added.

Minsk discussed the possibility of raising an IMF loan of $3 bln at 2.28% for a period of 10 years. Earlier, the authorities stated that there is a rapprochement in many positions, but problematic points remain. The IMF requires Belarus to carry out decisive reforms in the economy.

 

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