{
  "title": "Belarus: Recent Economic Developments",
  "publication": "IMF Staff Country Reports, November 17, 1997",
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  "summary": "This paper reviews economic developments in the Republic of Belarus during the 1990s. In late 1994 and early 1995, the Belarusian authorities took major steps to further liberalize the economy and bring down inflation from the high levels of 1993–94.",
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    {
      "heading": "Summary",
      "content": "- This paper reviews economic developments in the Republic of Belarus during the 1990s.\n- In late 1994 and early 1995, the Belarusian authorities took major steps to further liberalize the economy and bring down inflation from the high levels of 1993–94.\n- By the second half of 1995, macroeconomic policies began to be relaxed and structural reform came to a virtual standstill.\n- The relaxation of monetary policy was accompanied by an exchange rate policy in 1996, which caused the Belarusian currency to continue to appreciate significantly against the U.S. dollar."
    },
    {
      "heading": "Key findings and developments",
      "content": "- Major liberalization measures implemented: late 1994 and early 1995.\n- Inflation trajectory: high in 1993–94; brought down following 1994–95 measures.\n- Policy reversal: relaxation of macroeconomic policies beginning in the second half of 1995.\n- Exchange rate outcome: 1996 exchange rate policy led to significant appreciation of the Belarusian currency versus the U.S. dollar."
    },
    {
      "heading": "Thematic coverage and keywords",
      "content": "- Subject areas: Banking, Commercial banks, Credit, Expenditure, Exports, Financial institutions, Imports, International trade, Money\n- Keywords: broad money, Commercial banks, CR, Credit, Europe, exchange rate, Exports, first quarter, foreign currency, gross domestic product, Imports, ISCR, national bank, trade balance, U.S. dollar, Western Europe\n\n---\n\n Content in this bundle\n\n- Republic of Belarus - Recent Economic Developments - ISCR/97/111\n  - Republic of Belarus - Recent Economic Developments - ISCR/97/111 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Republic of Belarus - Recent Economic Developments - ISCR/97/111 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 17, 1997",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451805024.002",
    "This paper reviews economic developments in the Republic of Belarus during the 1990s.",
    "In late 1994 and early 1995, the Belarusian authorities took major steps to further liberalize the economy and bring down inflation from the high levels of 1993–94.",
    "By the second half of 1995, macroeconomic policies began to be relaxed and structural reform came to a virtual standstill.",
    "The relaxation of monetary policy was accompanied by an exchange rate policy in 1996, which caused the Belarusian currency to continue to appreciate significantly against the U.S. dollar.",
    "Major liberalization measures implemented: late 1994 and early 1995.",
    "Inflation trajectory: high in 1993–94; brought down following 1994–95 measures.",
    "Policy reversal: relaxation of macroeconomic policies beginning in the second half of 1995.",
    "Exchange rate outcome: 1996 exchange rate policy led to significant appreciation of the Belarusian currency versus the U.S. dollar.",
    "Subject areas: Banking, Commercial banks, Credit, Expenditure, Exports, Financial institutions, Imports, International trade, Money",
    "Keywords: broad money, Commercial banks, CR, Credit, Europe, exchange rate, Exports, first quarter, foreign currency, gross domestic product, Imports, ISCR, national bank, trade balance, U.S. dollar, Western Europe",
    "**Republic of Belarus - Recent Economic Developments - ISCR/97/111**"
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