Belarus gets fourth loan from IMF

Baku - APA-ECONOMICS. The International Monetary Fund has granted $688 million to Belarus -- the fourth tranche of a stabilisation loan -- and said the ex-Soviet economy is starting to emerge from the crisis, though policy must remain prudent, Reuters.

Belarus has been beaten badly by deteriorating demand for goods in Russia and Europe, its chief export markets.

The latest allocation takes the sum given to Belarus by the IMF to $2.88 billion, out of the $3.63 billion earmarked in total, the fund said in a statement late on Friday.

The IMF expects the Belarussian economy to grow 1.8 percent next year after a 1.2 percent contraction in 2009.

"The economy is beginning to emerge from the crisis. Export volumes have stabilized, the exchange rate depreciation has improved competitiveness, and confidence appears to be growing among households," IMF Deputy Managing Director Takatoshi Kato said in the statement.

"At the same time, Belarus remains vulnerable to external shocks, requiring continued prudent macroeconomic policies as well as flexibility in the face of uncertainties."


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