Belarus counts on a new programme with the IMF
29/10/20120 views
On October 29, Minsk/Anna Kot - BELTA. Belarus counts on a new program with the International Monetary Fund. This was stated today by the Prime Minister of Belarus Mikhail Myasnikovich at a meeting with the head of the IMF mission David Hoffmann, BELTA correspondent reports.
"We believe that Belarus, given the extensive work done, can count on a program with the Fund," said Mikhail Myasnikovich. "And I think this will be communicated to the executive directors and the political leadership of the Fund," he added.
Judging by the volume of materials presented by the mission for the meeting with the government, it worked quite effectively in Belarus for 11 days, the Prime Minister noted. "While supporting the mission's conclusions in principle, I would like to note that on some points, I would have thought that perhaps you did not have enough information, and in this situation, the conclusions are not entirely objective," said Mikhail Myasnikovich.
"I think you have had the opportunity to be convinced that the government and the National Bank have consistently ensured the stabilization of the economy," said Mikhail Myasnikovich, noting that this, to some extent, corresponds to the recommendations presented by the previous mission.
First of all, the situation in the currency and consumer markets has been stabilized. "We have achieved a balanced budget, we are ensuring the growth of gold and foreign exchange reserves. At the same time, we are fully ensuring the servicing of external debt and planned budget allocations. If we look at the balance of our foreign trade, it is also positive, and even if we use the methodology of various accounts and approaches, we are quite successfully exporting industrial and agricultural products," said Mikhail Myasnikovich.
"Why do we talk about the need to increase exports as a priority? Macroeconomic stabilization follows from this. We, as professionals, understand this very well," the Prime Minister noted. Mikhail Myasnikovich added that the inflation rates, of course, do not satisfy the Belarusian side, but they are within the forecast.
"Therefore, we would like these and other points to be reflected in the final documents of the IMF mission," Mikhail Myasnikovich summarized.
David Hoffman, in turn, noted that over the past two weeks, representatives of the IMF mission have held very constructive discussions with colleagues from the National Bank, the government, and other parties. "I am pleased that we have the opportunity to discuss our findings with you today," said the head of the IMF mission.
The International Monetary Fund mission, led by David Hoffman, began its work in Belarus on October 18 and will conclude it today. The mission's objective is to conduct the third post-program monitoring of the Belarusian economy. After the mission concludes its work, the report will be discussed by the IMF Board of Directors. The mission's visit was intended to provide an opportunity for the Belarusian authorities and the Fund's staff to discuss the authorities' economic policies and the development prospects of the national economy in 2013.
Belarus implemented a stand-by program, supported by a $3.6 billion IMF loan, from January 2009 to April 2010. The Belarusian side has repeatedly stated its interest in implementing a new program with the International Monetary Fund. -0-
BELTA