Belarus plans new consultations with EurAsEC Anticrisis Fund in September

          The Finance Ministry of Belarus hopes to launch consultations with the EurAsEC Anticrisis Fund regarding a new program in September 2013. “Keeping in mind that the EurAsEC Anticrisis Fund's stabilization program is nearing completion, the Finance Ministry is interested in launching a new one,” the ministry said. Given that one of the areas of the Fund's activity is to support economic reforms, the Finance Ministry addressed the Fund with a proposal to launch consultations concerning a concept of a new program of structural reforms. “Belarus plans to conduct consultations with the Fund’s experts in September 2013 in order to elaborate fundamental approaches to the implementation of a new program,” the Finance Ministry said. The stabilization program of the government and the National Bank of Belarus with assistance of the EurAsEC Anticrisis Fund loan hugely contributed to the achievement of the macroeconomic stabilization goals in Belarus, the ministry stressed.
        “Implementation of the program helped secure the uniform exchange rate as well as a positive refinancing rate of the National Bank. Amendments were introduced into the Banking Code, in line with which the National Bank was freed from performing outlying functions. The program also helped balance out the budgets of all levels, reduce the expenditure on lending under government programs to less than 1% of GDP,” the Finance Ministry said.