Belarus pays $84.4 mln off IMF loan principle
This is the second installment wired in October to the International Monetary Fund, as the peak of re-payments under this standby loan falls on 2013.
The previous reimbursement happened on October 11 when Belarus paid almost $100 million to repay part of the debt.
Belarus received a $3,5 billion from the International Monetary Fund (IMF) within the time period between January 2009 and April 2010. The loan allowed the country to raise the average salary to the $500 level ahead of the presidential election in December 2010.
At present, the IMF is carrying out a post-program monitoring of the Belarusian economy. The IMF has sent four missions to Belarus since early 2011. The 5th mission of the International Monetary Fund, headed by David Hoffman, is now visiting Minsk (October 17-28).
On October 10, the government and the National Bank adopted a plan of joint actions, aiming to implement structural reforms and to boost the competitiveness of the Belarusian economy. The document prescribes consultations with the IMF about the loan in the framework of a new program in October-December 2013. Experts reckon that this may be the Extended Fund Facility (EFF) program, which, in comparison with the stand-by program, has bigger loan terms with an aim to support structural reforms in the economy in the mid-term perspective.
