EurAsEC Anti-crisis Fund is not going to sponsor Belarus without moves towards further privatization.
Belarus ought to fulfill the privatization commitment that it took while applying for the Eurasian Economic Community (EurAsEC)'s $3-billion loan, Alisher Mirzoyev, a departmental head at the EurAsEC Anti-crisis Fund, said in an interview with BelaPAN.
Belarus is required to sell $2.5 billion worth of state-owned enterprises this year to receive fresh installments of the loan.
“The privatization condition in the framework of the loan program is necessary because Belarus has to boost its gold and foreign exchange reserves. If Belarus fails to boost them through privatization, it will have to take other measures securing the reserves' increase,” Mr. Mirzoyev said.
He warned that such measures would be painful and likely lead to the further reduction of domestic demand through a decrease in households' incomes and investments in the economy. “That's why it ought to fulfill its privatization commitment,” the official said.
He referred to the Belarusian government's earlier announcement that it would carry out economic liberalization and increase the private sector's share in the economy. “From this point of view privatization is logical and fits the policy that your government announced earlier,” he said.
The EurAsEC Anti-crisis Fund approved the loan in mid-2011 to help Belarus cope with its currency crisis.
The first, $800-million tranche of the loan was made available to Belarus in June 2011. Another portion, $440 million, was provided in late December.
Belarus was scheduled to receive the third tranche before February 28, but the Fund is said to be demanding guarantees that Minsk will pursue a tighter monetary policy and has not disbursed the installment of the loan so far.
1xBet hosts thousands of fake matches, including in Belarus. They earn astronomical sums8
1xBet hosts thousands of fake matches, including in Belarus. They earn astronomical sums
«If the West Detained Lukashenko's Agents, There Could Be an Exchange Fund.» Vechorko on Political Prisoners, Cabinet Staff Turnover, Border Situation, and Visas9292
Comments