Authorities to consider possibility of IMF`s new country strategy for Belarus in fall at earliest

Finance Minister Andrey Kharkavets noted that EU`s lending had been tied to the implementation of the Stand-By Arrangement with the IMF. Since...

The government intends to consider the possibility of the International Monetary Fund (IMF)`s new country strategy for Belarus this fall at the earliest, Finance Minister Andrey Kharkavets told reporters in Minsk on June 15, as quoted by BelaPAN.

The Belarusian authorities will discuss cooperation prospects with the IMF after assessing the country`s economic performance in the first six or seven months of this year, according to the minister. "A program is needed when there are serious macroeconomic gaps. It is important today to continue acting in the spirit of the agreements reached during the implementation of the previous IMF program," he said.

Mr. Kharkavets noted that the implementation of the country`s Stand-By Arrangement with the IMF had been concluded this spring. "It is self-discipline that matters in economy, everything else can be achieved through other instruments," he said.

Minsk has not stopped its technical cooperation with the IMF and the World Bank, the minister said.

When asked as to whether the European Union still plans to provide a loan to Belarus, Mr. Kharkavets noted that the bloc`s lending had been tied to the implementation of the Stand-By Arrangement with the IMF. Since the EU failed to make the loan available before the conclusion of the program, it no longer has any obligations to Belarus, the minister said.