Russian loan as needed?

Tsigankov: "As the Belarusian economy needs at the moment Russian loan? We constantly hear that the foreign exchange reserves of the country grow, the ruble is stable. Why then borrow money?"
Romanchuk: "We fear the huge eyes. Government wishes to check the collapse did not come out, that was not what happened in January, when depositors withdrew from the Belarusian banks 30 per cent equity. This information is confirmed by Alexander Lukashenko.
Second reason is that there is obviously hidden from the eyes of society and professionals information reflecting the real state of our economy. So Makar. excellent balance sheets of banks and companies — only part of the truth, which is essentially a more bitter. Because that did not prevent the deterioration of the situation, the government and wants to get this loan. "
Tsigankov: "What needs to be focused credit? Or rather the government is free to dispose of them or it is tied to some specific goals?"
Romanchuk: "I think that the government can freely dispose of credit. Indeed it is issued under such broad terms as" stabilization "," prevention of macroeconomic risks. "But I think that’s part of politics, and until Belarus will receive these funds to their own accounts, remains an open question. "
Tsigankov: "Until now, the Belarusian official propaganda energetically stressed that the country has a fairly small debt compared with its neighbors. But recent months Belarus boast more that takes loans. But they will have to return. Than it threatens the economy?"
Romanchuk: "If we are talking about municipal debt, it really is quite small. Belarus even got a sovereign credit rating. Regarding banks and companies, they are This year borrowed as distraught, increasing them by more than three billion dollars. And it’s like building a pyramid.
Indeed, in contrast to the Russian default in 1998, where the government is doing, then we have it makes commercial sector. And there is a danger first in maintaining the balance of payments. If it lasts, the devaluation will be inevitable. "
• Our homeland is ready to give credit to Belarus 28.11.07

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