Belarus advised to continue rigorous monetary management, fiscal policies

         The Eurasian Development Bank recommends that Belarus should continue pursuing rigorous monetary management and fiscal policies.
         On 30 April the Eurasian Development Bank, which manages money of the EurAsEC Anticrisis Fund, transferred the fifth $440 million tranche of the financial loan from the EurAsEC Anticrisis Fund to Belarus.
The decision to allocate the tranche was made by the Anticrisis Fund Board via absentee vote on 30 April 2013 after evaluating the fulfillment of the fifth tranche parameters by Belarus as of 1 January 2013 and a noticeable slowdown of the bank lending to the economy in January-April 2013 in comparison with H2 2012.
Bringing the salary growth rate in step with labor productivity growth rate remains a fundamental issue.
On 4 June 2011 the EurAsEC Anticrisis Fund Council authorized the allocation of a $3 billion financial loan to Belarus. A total of $2.560 billion has been received in five tranches so far for the sake of maintaining the balance of payments and replenishing the international reserves.