Belarus receives over $600 million under IMF loan program The National Bank of Belarus has received over $600 million as part of the second part of a loan from the International Monetary Fund (IMF)
The National Bank of Belarus has received over $600 million as part of the second part of a loan from the International Monetary Fund (IMF), National Bank press secretary Anatoly Drozdov told Interfax.
It was reported earlier that the IMF Board of Governors decided on Monday to increase the volume of a stand-by loan for Belarus to $3.52 billion, by around $1 billion, and also endorsed the immediate extension of the second part of the loan program amounting to $679.2 million.
The new loan is designed to support the Belarusian government's economic program and soften the global financial crisis consequences for Belarus, which have proven to be more substantial for that country than was previously expected.
The credit line in an amount of $2.51 billion was opened for Belarus in January 2009, and Minsk received the first $778-million transfer immediately after that. The IMF has extended nearly $1.5 billion under this program as of now.
The volume of resources the IMF is to extend to Belarus in 2009 is to surpass $2 billion.