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IMF calls on Belarus to accelerate reforms for economic recovery

Xinhua, July 1, 2016 Adjust font size:

The International Monetary Fund (IMF) positively assessed reforms in Belarusian economy, but it was necessary to deepen and accelerate them, head of the IMF mission to Belarus, Peter Dolman, said on Thursday.

Recession in the Belarusian economy was expected to continue next year, followed by a gradual economic recovery, Dolman told local media.

In the medium term, the economic growth may exceed 4.5 percent -- under condition of the acceleration of reforms, Dolman said summing up the results of an IMF staff visit to Belarus.

"We believe that the most important task is to reform state-owned enterprises," Dolman said, saying that it was necessary to improve the efficiency of these enterprises.

He also urged Belarus "to ensure competition and ensure the development of private enterprises."

Belarus has paid off a 3.5 billion U.S. dollars loan it received from the IMF in 2009-2010. The Belarusian government began to discuss a new 3 billion dollars program with the IMF last year after the warming of relations between Minsk and the West. Endit