IMF satisfied with reform program implementation in Belarus
The International Monetary Fund (IMF) is satisfied with how Belarus has been implementing a program of reforms supported by a stand-by credit worth $3.5 billion, IMF's European Department Director Marek Belka said in a statement.
The macroeconomic policy of Belarus is changing, but the country needs structural reforms, he said.
The Interfax news agency reports that Belka noted that the Belarusian economy was seriously affected by the crisis due to the recession in Russia in the first place. Russia would traditionally back the neighbor with energy resources. According to his estimates, the annual volume of subsidies from Russian to the Belarusian economy would reach 30 percent of the gross domestic product.
The macroeconomic policy of Belarus is changing, but the country needs structural reforms, he said.
The Interfax news agency reports that Belka noted that the Belarusian economy was seriously affected by the crisis due to the recession in Russia in the first place. Russia would traditionally back the neighbor with energy resources. According to his estimates, the annual volume of subsidies from Russian to the Belarusian economy would reach 30 percent of the gross domestic product.
