BELARUS NEWS AND ANALYSIS

DATE:

13/01/2009

IMF offers Belarus loan worth $2.46-billion

AFP

The International Monetary Fund said yesterday its executive board had approved an emergency loan of $2.46-billion (U.S.) to help Belarus cope with the global financial crisis. The IMF said the 15-month standby credit line is "in support of the country's efforts to adjust to external shocks" and will allow the Eastern European nation to draw $787.9-million immediately. The remainder will be made available subject to quarterly reviews. Officials in Minsk have said the IMF loan was needed to make up for lost export revenues because foreign countries were having trouble paying for its goods.

Source:

http://www.theglobeandmail.com/servlet/story/LAC.20090113.RTICKERB13-4//TPStory/Business

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