Cover IMF Staff Country Reports
Republic of Belarus: First Review Under the Stand-By Arrangement, and Request for a Waiver of Performance Criterion, Augmentation of Access, and Modification of Performance Criteria: Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive Board
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 260
Language:
English
Publication Date:
19 Aug 2009
DOI:
https://doi.org/10.5089/9781451805314.002
ISBN:
9781451805314
ISSN:
1934-7685
Pages:
68
Keywords:
ISCR; CR; liquidity support; IMF staff estimate; Belarus; support; peak fund credit; IMF financial support; end-June performance criteria; increases interest rates; disbursement of SDR; end-June floor; Exchange rates; Credit; Debt service; Global
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This paper discusses key findings of the First Review under the Stand-By Arrangement for the Republic of Belarus. All end-March 2009 quantitative and continuous performance criteria and structural benchmarks were met, except for the net international reserves target, which was missed by US$221 million. A sharp fall in demand for Belarus’s exports and a worsening of the capital account has led to the re-emergence of a substantial financing gap for 2009. The authorities have committed to adjust exchange rate and monetary policies, and to maintain a balanced budget despite lower revenue.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2009: Issue 260