23 December 2009
IMF $688m tranche arrives in Belarus
MINSK, 23 December (BelTA) – Belarus has obtained the fourth tranche of the IMF loan to the total amount of more than $688 million, BelTA learnt from the information department of the National Bank of Belarus. The decision on allocating the loan was made by the IMF Executive Board on 18 December 2009, after it completed the third review of Belarus’ performance under an economic program supported under a Stand-By Arrangement (SBA). Belarus fully honored all the obligations it undertook under the Stand-By Arrangement, IMF Deputy Managing Director Mr. Takatoshi Kato said in his report. The National Bank and the Government of Belarus will continue the implementation of all necessary measures to secure successful fulfillment of the Stand-By Arrangement. Belarus and the IMF will join their efforts to minimize the consequences of the global financial crisis and increase the efficiency of the Belarusian economy. The 15-month SBA was approved on 12 January 2009, and on 29 June 2009 the size of financial package provided under the SBA was increased to an amount equivalent to SDR 2.27 billion (about $3.63 billion). In January 2009 Belarus received the first tranche of the IMF loan - around $800 million. The second tranche (around $680 million) came in July. On 26 October Belarus received another IMF credit tranche to the tune of $699.5 million. Thus, the total volume of the loan provided by the IMF now stands at $2.87 billion.БЕЛТА