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Belarus makes first payment on main debt to IMF

April 20, 2012, 21:51 UTC+3
The IMF Board of Directors decided in January 2009 to grant a loan of $2.46 billion to Belarus within 15 months
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MINSK, April 20 (Itar-Tass) —— Belarus has done the first payment on its main debt to the International Monetary Fund (IMF), the Belarusian Finance Ministry said on Friday.

“In fulfillment of its standby loan obligations, the Republic of Belarus made the first payment on the main debt at SDR 64.7 million equivalent to $99.8 million on April 13, 2012,” the ministry said.

The IMF Board of Directors decided in January 2009 to grant a loan of $2.46 billion to Belarus within 15 months. The tranche of about $787.9 million was transferred immediately. Following the first review of the stabilization program, the IMF enlarged financial support to Belarus to $3.5 billion in June 2009. The program was complete in April 2010.

Last May Belarus asked the IMF for a new loan of $3.5-8 billion for a period of three to five years. Belarusian National Bank Board Chairperson Nadezhda Yermakova said in January 2012 the republic would continue negotiations on a new loan of the IMF and would ask for rescheduling the earlier debts.

The IMF thinks that Belarus is capable of repaying its debts to the IMF and other external creditors on the condition of an appropriate policy.

 

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