Cover IMF Staff Country Reports
Republic of Belarus: 2013 Article IV Consultation and Fourth Post-Program Monitoring Discussions
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 159
Language:
English
Publication Date:
12 Jun 2013
DOI:
https://doi.org/10.5089/9781484321331.002
ISBN:
9781484321331
ISSN:
1934-7685
Pages:
57
Keywords:
ISCR; CR; Belarus; market; policy; assessment; GDP; BCSE exchange; GDP share; share of SME; obligations of the state; Belarusian authorities; DB lending; Directed credit; Inflation; Global; Eastern Europe; Baltics; Europe
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The economic model of Belarus is increasingly untenable, resulting in poor policy outcomes. Strong and predictable macroeconomic policies are essential to promote stability. A further reduction in directed and subsidized lending operations is needed. The National Bank of the Republic of Belarus (NBRB) should tighten liquidity and stand ready to take further measures to ensure disinflation. Banking supervision has improved, but high foreign exchange lending growth poses risks. Strong structural reform remains critical to achieving higher sustainable growth. The Development Bank should be used to facilitate broader financial sector reform.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2013: Issue 159