Minsk this week will not be able to get a loan from Russia

Moscow and Minsk in 2-3 weeks agree the conditions of the Russian loan for a billion dollars, which will help stabilize the Belarusian economy. This RIA Novosti reported with reference to the Director of the Department of International Financial Relations Ministry of Finance of the Russian Federation Andrey Bokarava. Earlier, on April 26 the Belarusian authorities have reported that they hope to reach an agreement with Russia on the conditions of the loan this week.

Belarus in March 2011and is in talks with Russia for a loan of a billion dollars and expects to receive about 2 billion controlled by Russia EurAsEC anti-crisis fund. Moscow claimed that in exchange for a loan will require from Minsk to carry out structural reforms and the lifting of restrictions on the foreign exchange market.

Finance Minister Andrei Kharkavets April 26 said that Russia and Belarus have agreed on a list of measures to stabilize the macroeconomic situation in the country. However, he did not lead the details of what the conditions of Moscow Minsk is ready to go for the loan.

25 April first vice-chairman Central Bank of Russia Alexei Ulyukayev said that the decision on a loan yet, and Russia expects the Belarusian authorities greater flexibility in the exchange rate policy. He also clarified that the rate of currency sold to the population as must be free.

The currency crisis in Belarus, which is developed from the beginning this year, arose from the fact that the population began buying dollars and euros for fear of devaluation of the local currency. To extinguish the demand for the currency, the Belarusian authorities had to spend a significant part of the reserves of the country, and take a series of measures to limit the foreign exchange market.

The uncertainty of the ruble, which provoked the actions of the National Bank of Belarus, affected growth in import prices, and led to the emergence in Belarus multiple exchange rates and queues in the exchange offices.

Like this post? Please share to your friends: