Republic of Belarus: 2013 Article IV Consultation and Fourth Post-Program Monitoring Discussions
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Summary:
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.
Series:
Country Report No. 2013/159
Subject:
Directed credit External debt Foreign exchange Inflation Money Prices Public debt
Notes:
Full text also available in Russian.
English
Publication Date:
June 12, 2013
ISBN/ISSN:
9781484321331/1934-7685
Stock No:
1BLREA2013001
Pages:
57
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