IMF Mission Arrives In Minsk Second Time This Year

A new International Monetary Fund (IMF) mission has arrived in Belarus on 5 June, BelTA reports. The mission led by Peter Dohlman, head of the IMF Mission to Belarus, will be working in Minsk on 5-12 June.

Experts will assess the country’s current economic policy. They are expected to hold annual consultations with Belarusian authorities under Article IV ahead of the IMF annual mission scheduled for October.

The IMF delegations has already visited Minsk this year. In March Peter Dohlman and his colleague came to Minsk with a one-day visit at the invitation of Belarus President Alexander Lukashenko.

The Belarusian leader said he invited the officials “to discuss one or two issues”. According to the IMF, the agenda of the talks included the discussion of the economic and social situation, as well as a system of social protection for those who needed it most.

At present, Belarus is almost ready to sign a new loan program with the Fund. The country intends to borrow at least $ 3 billion for 10 years at 2.28% per annum.

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Creditors insist on liberalization of Belarusian economy and elimination of cross-subsidization. In February the First Deputy Prime Minister Vasily Matyushevsky noted that the loan program is ready, and its signing requires a political decision.

Negotiations on a new credit program with Belarus will continue in April in Washington, the mission announced after the visit in March.