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IMF's loan decision will depend on macroeconomic reforms, minister says

The International Monetary Fund (IMF)'s decision whether to issue a loan to Belarus will depend on the country's readiness to carry out macroeconomic reforms, Finance Minister Andrey Kharkavets told reporters in Minsk on June 24.

"As for the IMF, the question is not about the amount. The question is about whether we will be able to adjust the macroeconomic policy. If the measures, structural reforms that we will implement in the economy prove fairly fruitful, the IMF will certainly provide financial support," he said.

According to Mr. Kharkavets, the amount of IMF lending that Belarus may count on will depend on the country's current account deficit.

"We have not seen any unexpected proposals from the IMF regarding macroeconomic policy adjustment," the minister said, adding that Belarus was already implementing such measures as a condition of the Eurasian Economic Community's $3-billion loan.

"The question is about the extent of these measures and the assessment of their efficiency on the part of the IMF," Mr. Kharkavets said. //BelaPAN