The Belarusian government and the International Monetary Fund have disagreed on the timing of the implementation of structural reforms. The official Minsk does not plan to continue negotiations on a new IMF loan, as stated by Finance Minister Maksim Yermalovich.
“The absence of the IMF program has a double negative effect. Absence of long and cheap money. Secondly, it is the statement that the reforms we needed were not available, are not available and will not be available, ” said Alpari financial analyst Vadzim Iosub.
According to Yermalovich, the government and the leadership of the IMF have similar views on the need to carry out reforms in our country, the only difference is in approaches. The management of the fund insists that the reforms be more dynamic. The government argues that rapid reforms could be a shock to the population.
Minsk plans to compensate for the lack of an IMF loan by bonds worth $ 2 billion, which will be placed on the markets of Russia and China. Also, Minsk is planning a new issue of Eurobonds.
