BELARUS NEWS AND ANALYSIS

DATE:

22/06/2009

IMF says wider Belarus forex band adds flexibility

WASHINGTON, June 22 (Reuters) - The decision by Belarus to widen the exchange rate band to 10 percent from 5 percent will make it easier for the economy to absorb external shocks, a senior IMF official said on Monday.

Chris Jarvis, the IMF's mission chief to Belarus, said in a statement the recent gradual decline in the exchange rate within the band will improve the country's balance of payments.

'The decision by the (central bank) last week to increase the interest rate on overnight lending to commercial banks was a positive step that will support economic and exchange rate stability,' Jarvis added.

Source:

http://www.forbes.com/feeds/afx/2009/06/22/afx6571419.html

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