BELARUS NEWS AND ANALYSIS

DATE:

13/01/2009

IMF approves $2.5 billion loan to Belarus

Minsk, January 12 (Interfax) - The International Monetary Fund on Monday approved a $2.5 billion stabilization loan for Belarus aimed at supporting a 15-month Belarusian reform program, the IMF's Belarusian office said.

The approval followed recommendations by an IMF mission that started work in Belarus on October 26, the office told Interfax. The office cited the mission as saying it issued its recommendations on December 31

The first $800 million tranche of the loan is to be released this month.

Belarus asked for the loan in mid-October, arguing it needed it as a security cushion against mounting effects of the global financial crisis.

Source:

http://www.kyivpost.com/world/33114

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