By Sandrine Rastello
The International Monetary Fund urged authorities in Belarus to curtail government spending and to increase interest rates to narrow the country’s current account deficit.
The Washington-based IMF, which forecast growth of 6.9 percent in the nation this year, said that a “relaxation of macroeconomics policies” has spurred domestic demand, leading to a current account shortfall of about 16 percent of gross domestic product.
IMF executive directors “underscored that reducing the current account deficit is critical,” the IMF said in an e- mailed statement following a March 4 meeting that was released today. “They emphasized the need for fiscal and monetary tightening and cuts in lending under government programs.”
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