Republic of Belarus: 2013 Article IV Consultation and Fourth Post-Program Monitoring Discussions
June 12, 2013
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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.
Subject: Directed credit, External debt, Foreign exchange, Inflation, Money, Prices, Public debt
Keywords: assessment, Baltics, BCSE exchange, Belarus, Belarusian authorities, CR, DB lending, Directed credit, Eastern Europe, Europe, GDP, GDP share, Global, Inflation, ISCR, market, obligations of the state, policy, share of SME
Pages:
57
Volume:
2013
DOI:
Issue:
159
Series:
Country Report No. 2013/159
Stock No:
1BLREA2013001
ISBN:
9781484321331
ISSN:
1934-7685
Notes
Full text also available in Russian.
