Republic of Belarus: 2013 Article IV Consultation and Fourth Post-Program Monitoring Discussions

International Monetary Fund

No 2013/159, IMF Staff Country Reports from International Monetary Fund

Abstract: The economic model of Belarus is increasingly untenable, resulting in poor policy outcomes. Strong and predictable macroeconomic policies are essential to promote stability. A further reduction in directed and subsidized lending operations is needed. The National Bank of the Republic of Belarus (NBRB) should tighten liquidity and stand ready to take further measures to ensure disinflation. Banking supervision has improved, but high foreign exchange lending growth poses risks. Strong structural reform remains critical to achieving higher sustainable growth. The Development Bank should be used to facilitate broader financial sector reform.

Keywords: ISCR; CR; Belarus; market; policy; assessment; GDP; BCSE exchange; GDP share; share of SME; obligations of the state; Belarusian authorities; DB lending; Directed credit; Inflation; Global; Eastern Europe; Baltics; Europe (search for similar items in EconPapers)
Pages: 57
Date: 2013-06-12
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