Belarus receives $700-mln IMF stand-by tranche

MINSK. Oct 26 (Interfax) - Belarus has now received a third stand-by loan tranche of $699.5 million from the International Monetary Fund (IMF), the National Bank of Belarus (NBB) told Interfax.

The tranche has been included in the NBB's gold and forex reserves, which stood at $3.879 billion on October 1, calculated to IMF methods.

IMF directors approved the tranche on October 21. The tranche increases the amount of IMF funding allocated to Belarus to $2.3 billion.

The overall stand-by facility could amount to $3.63 billion.

The IMF's second review mission was in Belarus from August 18 to September 2. The IMF said in a report following that mission that given that the macroeconomic and financial policies pursued in Belarus complied with the program.

The IMF originally approved a $2.5-billion stand-by facility for Belarus lasting 15 months in December 2008. The facility was increased to $3.5 billion in June, on Minsk's initiative.

In addition, the IMF provided Belarus with $448.7 million in Special Drawing Rights at the beginning of September in a special SDR distribution.



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