Belarusian National Bank expects IMF to disburse $1.35 billion this year


International Monetary Fund (IMF) this year, Belarusian National Bank Board chairman Pyotr Prokopovich said.

"Before the end of the year we look forward to two more tranches of an IMF loan totaling $1.35 billion," Prokopovich said at a press conference in Minsk on Wednesday.

"All the indicators of the IMF program were carried out in full by July 1," he said.

During the previous period ending on April 1 "there were questions about net international reserves," he added.

"Today we are working to fulfill all the indicators of the program by October 1," Prokopovich said, adding that there are no questions relating to new IMF loan tranches.

"The question of the allotment of a Russian loan of $500 million has been settled in principle," he said.

"The decision has been made in principle and I see no questions here," he said.

As for attracting foreign resources to support forex reserves "we are working with several other countries in the South, East and North to reach a comprehensive solution," he said.

Prokopovich said that the expected livening up of the economy will promote the growth of forex reserves. "There have been positive trends in July. Broad exports of potassium fertilizer have been launched," he said.

By the end of the year forex reserves are expected to amount to $5.87 billion up from $3.88 billion on July 10 and $3.66 billion on January 1 this year, Prokopovich said.



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