Republic of Belarus: 2011 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2011/066, IMF Staff Country Reports from International Monetary Fund

Abstract: Belarus’s economy grew rapidly but remained vulnerable to external shocks. Under the IMF-supported program, Belarus avoided loss of output during the global recession, contained inflation, and increased gross reserves. The structural reform agenda focused on economic liberalization, a shift in investment from the housing sector to the tradable sector, a smaller role of the state, and the development of the financial sector. Post-program monitoring was proposed. Establishing a development bank to administer lending under government programs would free the central bank and commercial banks from quasi-fiscal activity.

Keywords: ISCR; CR; authority; General government balance; Belarusian authorities; government program; IMF staff estimate; foreign currency; Belarus's economy; current account; Current account deficits; Exchange rates; Credit; Exchange rate flexibility; Global (search for similar items in EconPapers)
Pages: 58
Date: 2011-03-09
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