BELARUS NEWS AND ANALYSIS
DATE:
10/03/2011
Belarus Needs to Narrow Current Account Deficit, IMF Says
By Sandrine Rastello
The International Monetary Fund urged authorities in Belarus to curtail government spending and to increase interest rates to narrow the country’s current account deficit.
The Washington-based IMF, which forecast growth of 6.9 percent in the nation this year, said that a “relaxation of macroeconomics policies” has spurred domestic demand, leading to a current account shortfall of about 16 percent of gross domestic product.
IMF executive directors “underscored that reducing the current account deficit is critical,” the IMF said in an e- mailed statement following a March 4 meeting that was released today. “They emphasized the need for fiscal and monetary tightening and cuts in lending under government programs.”
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