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Belarus sees no serious obstacles in loan talks with IMF, prime minister says

Belarus sees no serious obstacles in its talks with the International Monetary Fund (IMF) on a $2-billion loan and is hopeful of reaching an agreement, Prime Minister Syarhey Sidorski said in an interview with Reuters on Monday.

An IMF mission has stayed in Belarus for three weeks to discuss Belarus’ loan request.

"We are hoping for a positive outcome," Mr. Sidorski was quoted as saying. "I believe that the experts will find a compromise to successfully finish this mission."
The premier said that the Belarusian government had provided all necessary information to the IMF.

"The (IMF) mission, the experts, all take our side, at least that's what they tell us. Now the ball is on the side of the IMF mission," he said, adding that the IMF would have to take a decision "in the near future."

Mr. Sidorski noted that the loan was needed for supporting the real economy, including importer and exporters.

"The (IMF) credit ... is not only for Belarus, it would also be a credit for the partners from the European Union that are now involved in export-import relations with the Belarus industries," Reuters quoted him as saying.

Moscow has recently agreed to lend Belarus $2 billion, Mr. Sidorski said.

The National Bank said that the country’s gold and foreign exchange reserves had decreased by almost $460 million, or 10 percent, in September to $4,119.9 million and fell by $68.1 million to $4,051.8 million in October.

While talking to reporters on October 30, Vasil Matsyushewski, deputy chairman of the National Bank, said that it was not vitally important for Belarus to borrow from the IMF.

The loan could serve as a “safety cushion," he said. "We’re in no hurry because this financing is not of critical importance to us." //BelaPAN