IMF to launch virtual mission to Belarus to gather data on economy
<p> MINSK, Sep 13 - PrimePress. The International Monetary Fund (IMF) on Friday said it would begin a virtual mission to Belarus, amid concerns raised about the global lender's disbursement of new emergency reserves to the government of president Alexander Lukashenko. </p> <p> </p> <p> The staff mission is part of the IMF’s economic surveillance and monitoring mandate and aims to gather more information about the economic developments in Belarus and its response to the COVID-19 pandemic, an IMF spokesperson said. </p> <p> </p> <p> A source familiar with the IMF plans told Reuters that the mission will begin monitoring on 13 September 2021 “amid concerns” over the nearly $1bn tranche allocated to Belarus as part of the recent general Special Drawing Rights allocation. </p> <p> </p> <p> As previously reported, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity. The decision took effect on 23 Aug 2023. The quota for Belarus is 0.14%, and based on that calculation Belarus has received an SDR equivalent of about $920 million and transferred the funds to the state’s FX reserves. </p> <p> </p> <p> In April 2020, Belarus requested $940 million from the IMF as part of the rapid financing instrument to deal with the impact of the pandemic coronavirus. President Alexander Lukashenko said in June 2020 that Belarus would not fulfill the IMF’s additional credit terms, which do not relate to the financial component. In particular, he said, the IMF demanded “quarantine, isolation and curfews”, which was unacceptable for the country. Director of the IMF’s Communications Department Gerry Rice said on 10 September 2020 that the agreement on providing Belarus with emergency assistance was not reached, since the Belarusian authorities did not guarantee “appropriate political measures to ensure that funds would be used to combat the pandemic and promote economic stability.” End </p>
2021-09-14
Primepress
IMF to launch virtual mission to Belarus to gather data on economy
MINSK, Sep 13 - PrimePress. The International Monetary Fund (IMF) on Friday said it would begin a virtual mission to Belarus, amid concerns raised about the global lender's disbursement of new emergency reserves to the government of president Alexander Lukashenko.
The staff mission is part of the IMF’s economic surveillance and monitoring mandate and aims to gather more information about the economic developments in Belarus and its response to the COVID-19 pandemic, an IMF spokesperson said.
A source familiar with the IMF plans told Reuters that the mission will begin monitoring on 13 September 2021 “amid concerns” over the nearly $1bn tranche allocated to Belarus as part of the recent general Special Drawing Rights allocation.
As previously reported, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity. The decision took effect on 23 Aug 2023. The quota for Belarus is 0.14%, and based on that calculation Belarus has received an SDR equivalent of about $920 million and transferred the funds to the state’s FX reserves.
In April 2020, Belarus requested $940 million from the IMF as part of the rapid financing instrument to deal with the impact of the pandemic coronavirus. President Alexander Lukashenko said in June 2020 that Belarus would not fulfill the IMF’s additional credit terms, which do not relate to the financial component. In particular, he said, the IMF demanded “quarantine, isolation and curfews”, which was unacceptable for the country. Director of the IMF’s Communications Department Gerry Rice said on 10 September 2020 that the agreement on providing Belarus with emergency assistance was not reached, since the Belarusian authorities did not guarantee “appropriate political measures to ensure that funds would be used to combat the pandemic and promote economic stability.” End