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Republic of Belarus: 2011 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 066
Language:
English
Publication Date:
09 Mar 2011
DOI:
https://doi.org/10.5089/9781455220007.002
ISBN:
9781455220007
ISSN:
1934-7685
Pages:
58
Keywords:
ISCR; CR; authority; General government balance; Belarusian authorities; government program; IMF staff estimate; foreign currency; Belarus's economy; current account; Current account deficits; Exchange rates; Credit; Exchange rate flexibility; Global
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Belarus’s economy grew rapidly but remained vulnerable to external shocks. Under the IMF-supported program, Belarus avoided loss of output during the global recession, contained inflation, and increased gross reserves. The structural reform agenda focused on economic liberalization, a shift in investment from the housing sector to the tradable sector, a smaller role of the state, and the development of the financial sector. Post-program monitoring was proposed. Establishing a development bank to administer lending under government programs would free the central bank and commercial banks from quasi-fiscal activity.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund