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Wednesday, January 16, 2019

IMF is prepared to start new programs in Belarus

The International Monetary Fund (IMF) announced on Monday that it is ready to begin a new program with Belarus if economic structure reforms are carried out by the government. 

The group of reforms would have to include flexibility measures relating to exchange rates and policy for microeconomics, along with other reforms in structure. 

“A new program requires a complex package of structural reforms that could be backed by the IMF Executive Board,” David Hofman, IMF's head of the Belarus mission, said. 

The IMF representative noted that the government intends to implement measures for the exchange rate's flexibility and rigidity in microeconomic policy. Hofman states that this brings hope that both the IMF and the country can implement a new program of cooperation. 

“If the government demonstrates the readiness to embrace these changes in the economic policy, then the IMF is ready to start working on the new program,” Hofman said.

The IMF conducts reviews on all UN member states and provides financial assistance through projects.

Organizations in this Story

Government of Belarus International Monetary Fund

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