Jarvis: The IMF does not expose the political conditions for loans

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Questions about the specific size and timing of the possible loan from the International Monetary Fund for Belarus has not yet been considered. This was stated by the head of the IMF mission to Belarus Chris Jarvis at a press conference in Minsk. He also said that the discussion should be preceded by serious economic and financial developments in Belarus.

That what's going on Now in the Belarusian economy, an official of the IMF has called "a serious economic crisis." Its origins Chris Jarvis sees in excessive lending and excessive pay. It is in these areas and recommends that the mission primarily to improve the situation. Even through unpopular measures such as reducing the wages of the population compared to last year.

Maybe even help fund money. But this talk is premature.

The mission of offering their recipes to the President, the Government and the National Bank. From them, the IMF requires a coordinated policy of recovery. Maybe even help fund money. But this talk is premature, highlights Chris Jarvis:

"The talks have just begun and we still have a long way to go. Further discussion of macroeconomic policy. Also agree on major structural reforms in order to ensure efficient operation of enterprises and the financial system. And most importantly — the authorities should go with determination to the macroeconomic and structural change. "

Among the proposals of the IMF mission of the Belarusian leadership is and the transition to a floating exchange rate. How can rubles in case cost one dollar? — Asked the journalist Chris Jarvis. However, given the numbers we have not heard:

"We at the IMF have a good tradition — we do not make predictions about the exchange rate. And I will continue this tradition. It is clearly seen that the foreign exchange market there is uncertainty regarding the level at which the exchange rate may stabilize. But we believe that in the case of the transition to a floating exchange rate exchange rate will stabilize. "

An official from the IMF said, that the Belarusian authorities proposed to the liberalization of all segments of the foreign exchange market. And on the question of whether to influence the decision on the allocation of the IMF loan to Belarus political situation in the country, Chris Jarvis said that "the IMF does not set political conditions for their loans."

Under the new program of cooperation with the IMF Belarus hopes to raise between 3.5 to 8 billion. Application to the IMF, that he committed a stabilization loan, the government and the National Bank of Belarus sent on May 31.

Tags:

crisis, the IMF

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