Myasnikovich hopes for IMF loan

Prime Minister of Belarus confirmed interest in the new program of cooperation with the International Monetary Fund.

Belarus is interested in the new program of cooperation with the International Monetary Fund (IMF), Prime Minister of Belarus Mikhail Myasnikovich said as he met with representatives of the IMF.

“I would like to talk about further steps, including the next program which we previously discussed with Mr Jarvis,” Mikhail Myasnikovich said. He noted that last year Belarus did not receive the adequate support it was seeking from the IMF. "In the past difficult year we relied on our own forces, primarily the competitiveness of the economy, the stability of civil society and a coherent and responsible effort on the part of the authorities,” he stressed.

Belarus is grateful to its Eurasian Economic Community strategic partners who in a difficult time provided the necessary support in terms of structural adjustments and stabilization funds. “In particular, we are grateful to the Russian Federation and personally to Vladimir Putin and Dmitry Medvedev,” said Mikhail Myasnikovich. 

He suggested that the IMF representatives discuss further constructive steps that would be in the interest of the national economy and take into account the processes of the global economy. “We also believe that the IMF and other financial institutions should provide its member states with objective and relevant projections on medium-term development of global and regional economies and possible steps that should be taken in this difficult time,” the Prime Minister said. There are no relevant recommendations on these issues. “This is bad. We have to use different random facts. I mean the global economy, the processes taking place in the euro zone,” he added.

According to Mikhail Myasnikovich, the global financial crisis is not over. However, given the high level of development of the economies, peacetime, there is a possibility the situation in the global financial market will be successfully stabilized. The IMF could play a decisive role in this situation, the Prime Minister is sure. 

In turn, David Hofman, the deputy chief of the North-Eastern Division of the IMF European Department, head of the IMF Mission in the Republic of Belarus, noted that he hopes to continue good relations with Belarus. “This mission is a mission of business transfer, which gives a possibility to Mr Jarvis to introduce me to the authorities of Belarus. We have been here for two days holding meetings, and I will stay here until Monday inclusive,” he said. According to David Hofman, the current visit is a preparatory one meant to collect information for a larger mission for the third the post-program monitoring to be held in October.