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IMF starts negotiations on new loan program with Belarus

Xinhua, November 10, 2015 Adjust font size:

A mission of the International Monetary Fund (IMF) has arrived in Belarus to discuss a new three-year loan program with local authorities.

The head of the IMF mission in Belarus, Peter Dolman, said Monday the mission came at the invitation of the local government to discuss possible implementation of a three-year reform program and the subsequent issuance of the loan.

Dolman said that the three-year reform agenda rests on structural reforms and strengthening the role of the private sector in the economy as well as strengthening social protection.

According to the expert, the reforms will help improve the situation in the medium term, and will have an impact on the increase in the average income of the Belarusians.

The last point was a prerequisite for taking decision on issuance of the credit, he added.

The IMF's team will work in Belarus till Nov. 19.

Earlier this year, Belarus expressed willingness to negotiate the new loan program with the IMF in hopes of securing a loan of 3 billion U.S. dollars. Endit