Belarus Refused a Joint Reform Program With the IMF
OREANDA-NEWS The government of Belarus decided to abandon the joint program of structural reforms in the country with the International Monetary Fund. The next loan could be allocated to the IMF under this program, said the Minister of Finance Maxim Ermolovich.
"We developed a program of structural reforms together with IMF experts. The program is fully consistent with the principles of the IMF. And our positions coincided on the key points. We agreed on the program, but differed in the timing of its implementation," — said Yermolovich in an interview.
He sure that the IMF insisted "on a more compressed period, when these reforms were to be implemented". "The head of state (President of Belarus) pointed out that it would be a shock for people of the country and this can not be done. Therefore, the government refused the IMF loan program," the Finance Minister said.
At the same time, Yermolovich noted, Belarus continues cooperation with the IMF within the framework of the program of social and economic development of the Republic, which was approved by the all-Belarusian people's Assembly.
Last summer there was a pause in negotiations between Belarus and the IMF on a new program of cooperation. This program is involving a loan of about $ 3 billion at 2.28% per annum for ten years.
The parties differed in their views on the speed of reforms in Belarus, in particular, on the issue of raising tariffs for housing and communal services. Deputy Chairman of the National Bank of Belarus Dmitry Kalechits said that Minsk continues to cooperate with the IMF in terms of technical support for a number of government agencies.
Meanwhile, in August, after the decision to change the Prime Minister of Belarus and a number of Deputy Prime Ministers and Ministers, President Alexander Lukashenko said that the former Belarusian government took a "brainless" position on tariffs in the housing sector in the framework of negotiations with the IMF on the credit program.