Republic of Belarus: Selected Issues

International Monetary Fund

No 2010/016, IMF Staff Country Reports from International Monetary Fund

Abstract: The global financial crisis that erupted in late 2008 had a profound impact on Belarus’s economy. The unprecedented external shock necessitated a strong set of corrective measures, including exchange rate adjustment. This Selected Issues paper analyzes whether the corrective measures in the exchange area are sufficient to restore current account sustainability. It examines various pieces of evidence, including basic indicators of competitiveness as well as the macroeconomic balance and external sustainability approaches. It concludes that the substantial misalignment observed in the end of 2008 has been largely corrected.

Keywords: ISCR; CR; persistent current account deficit scenario; production function; labor; current account sustainability; current account norm; production function approach; IMF staff calculation; TFP growth; exchange rate misalignment; current account elasticity; oil product export; Current account; Current account deficits; Total factor productivity; Productivity; Exchange rates; Global; Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 28
Date: 2010-01-15
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Citations: View citations in EconPapers (2)

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