Belarus dismisses IMF rapid financing option, rejects quarantine
<p> MINSK, Jun 19 - PrimePress. Belarus would not meet the demand by the International Monetary Fund (IMF) to introduce “quarantine measures, isolation, a curfew” for the sake of receiving a rapid financing credit in the amount of $940 million. Belarusian President Alexander Lukashenko made a statement to this effect at the June 19 meeting with the government to discuss support measures the banking system could provide for the real economy sector. </p> <p> </p> <p> As previously reported, The government and the National Bank of Belarus turned to the IMF in March 2020 for financial support to mitigate the impacts of the global economic crisis and the coronavirus pandemic. The IMF Rapid Financing Instrument is designed to provide financial assistance to the IMF members to support government policies when emergency funding is required. Based on the access terms, Belarus can obtain $900 million in equivalent, says the National Bank of Belarus. </p> <p> </p> <p> “What are our partners' requirements? It was announced that they can provide Belarus with $940 million in so-called rapid financing. How are things here?” the head of state inquired. </p> <p> </p> <p> At the same time, he stressed that additional conditions which do not apply to the financial part are unacceptable for the country. “We hear the demands, for example, to model our coronavirus response on that of Italy. I do not want to see the Italian situation to repeat in Belarus. We have our own country and our own situation,” the president said. </p> <p> </p> <p> Lukashenko claims that the World Bank has showed interest in Belarus’ coronavirus response practices. “They are ready to fund us ten times more than it offered initially as a token of commendation for our efficient fight against this virus. The World Bank has even asked the Healthcare Ministry to share the experience. Meanwhile, the IMF continues to demand from us quarantine measures, isolation, a curfew. This is nonsense. We will not dance to anyone’s tune,” said Lukashenko. </p> <p> </p> <p> As previously reported, on June 1, 2020, the WB allocated €90 million in a financial support package to help Belarus take timely and effective measures of response to the COVID-19 pandemic by strengthening the national health system. On June 16 Lukashenko announced the World Bank would provide another $300 million for the possibility of using Belarus’ COVID-19 response practices. </p> <p> </p> <p> Commenting on Lukashenko’s statement, World Bank Country Manager for Belarus Alex Kremer told reporters that the bank could provide additional financing for Belarus, provided the country follows physical distancing recommendations of the World Health Organization (WHO): postpone mass events, reduce physical presence in workplaces and educational institutions, and reduce the number of non-binding movements. End </p>
2020-06-20
Primepress
Belarus dismisses IMF rapid financing option, rejects quarantine
MINSK, Jun 19 - PrimePress. Belarus would not meet the demand by the International Monetary Fund (IMF) to introduce “quarantine measures, isolation, a curfew” for the sake of receiving a rapid financing credit in the amount of $940 million. Belarusian President Alexander Lukashenko made a statement to this effect at the June 19 meeting with the government to discuss support measures the banking system could provide for the real economy sector.
As previously reported, The government and the National Bank of Belarus turned to the IMF in March 2020 for financial support to mitigate the impacts of the global economic crisis and the coronavirus pandemic. The IMF Rapid Financing Instrument is designed to provide financial assistance to the IMF members to support government policies when emergency funding is required. Based on the access terms, Belarus can obtain $900 million in equivalent, says the National Bank of Belarus.
“What are our partners' requirements? It was announced that they can provide Belarus with $940 million in so-called rapid financing. How are things here?” the head of state inquired.
At the same time, he stressed that additional conditions which do not apply to the financial part are unacceptable for the country. “We hear the demands, for example, to model our coronavirus response on that of Italy. I do not want to see the Italian situation to repeat in Belarus. We have our own country and our own situation,” the president said.
Lukashenko claims that the World Bank has showed interest in Belarus’ coronavirus response practices. “They are ready to fund us ten times more than it offered initially as a token of commendation for our efficient fight against this virus. The World Bank has even asked the Healthcare Ministry to share the experience. Meanwhile, the IMF continues to demand from us quarantine measures, isolation, a curfew. This is nonsense. We will not dance to anyone’s tune,” said Lukashenko.
As previously reported, on June 1, 2020, the WB allocated €90 million in a financial support package to help Belarus take timely and effective measures of response to the COVID-19 pandemic by strengthening the national health system. On June 16 Lukashenko announced the World Bank would provide another $300 million for the possibility of using Belarus’ COVID-19 response practices.
Commenting on Lukashenko’s statement, World Bank Country Manager for Belarus Alex Kremer told reporters that the bank could provide additional financing for Belarus, provided the country follows physical distancing recommendations of the World Health Organization (WHO): postpone mass events, reduce physical presence in workplaces and educational institutions, and reduce the number of non-binding movements. End