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6 Mar 2015

IMF Executive Board to review report on Belarus in May

MINSK, 6 March (BelTA) – A report of the International Monetary Fund on economic development and economic policy of Belarus will be discussed at a meeting of the IMF Executive Board in May, BelTA learned from Mr David Hofman, the head of the IMF mission to Belarus, Deputy Head of the Office for Northeastern Europe of the European Department.

The IMF experts will work in Belarus until 16 March. The mission will discuss the economic policy with the country's government, the National Bank, and will voice their recommendations.

Based on the results of our work as part of this mission, we will prepare a thorough report on the economic development and economic policy of the Republic of Belarus. It will be discussed at a meeting of the IMF Executive Board in May, said David Hofman. According to him, if the national authorities are not opposed, the report will be made public.

As was reported, the IMF experts arrived in Belarus on 5 March. This is a regular annual mission that will conduct the Article IV consultations and the annual review of the economy of Belarus. Similar reviews are conducted in other IMF member states.

The International Monetary Fund is a specialized UN institution headquartered in Washington, USA. 27 December 1945 is the IMF's official founding date. Belarus has been an IMF member since 1992. The country's quota stood at 386.4 million SDR ($542.1 million) at the beginning of 2013.

IMF operation in Belarus is aimed at working together with the government and the National Bank in preparing economic policy documents, focusing on taxation, budgeting, monetary management, exchange rate, and trade policy for the sake of achieving considerable economic growth, low inflation and a stable balance of payments.

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