This web page presents information about the work of the IMF in Belarus, including the activities of the IMF Resident Representative Office. Additional information can be found on the Belarus and IMF country page, including IMF reports and Executive Board documents that deal with Belarus.
At a Glance: Belarus's Relations with the IMF
- Current IMF membership: 190 countries
- Belarus Joined July 10, 1992; Article VIII
- Quota: SDR 681.5 million
- The latest Art IV Consultation was discussed by the Executive Board on December 13, 2017 (Country Report 17/383)
News and Highlights
KEF 2019: The Invisible Hand of Leviathan. Lessons of 30 years of transition from Belarus and beyond
October 31 – November 1, 2019 | Minsk, Belarus
The International Forum on Increasing Confidence in National Currencies on occasion of the 25 years of Belarusian Rubel
October 31 – November 1, 2019 | Minsk, Belarus
State Ownership in Europe’s Former Socialist States: The Unfinished Reform Agenda
IMF Blog | June 18, 2019
Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe
Departmental Paper No.19/11 | June 18, 2019
Presentations
2019
- The panel on Visible Hand of Inflation Targeting, moderated by Jacques Miniane, IMF mission chief for Belarus
- Presentation Reviving Economic Growth and Income Convergence in Belarus by Nadeem Ilahi, Senior Regional Resident Representative for CESEE and Belarus
- Presentation by Jacques Miniane, IMF Mission chief for Belarus at the International Forum on Increasing Confidence in National Currencies
- "Reassessing the Role of State Ownership in Central, Eastern, and South Eastern Europe", Presentation by Peter Dohlman and Christine Richmond, IMF European Department Staff at the Outreach Event in Minsk - June 20, 2019
2018
- "Belarus Economy in a Regional context", Presentation by Nadeem Ilahi, Senior Regional Resident Representative for Central, Eastern, and Southeastern Europe and Belarus at KEF – November 6, 2018
- "Using Good Times to Build Resilience", Presentation by Jacques Miniane, IMF Mission Chief for Belarus, at KEF – November 6, 2018.
- Answers at panel discussion at Fitch Conference: "Belarus Republic in 2018: Macroeconomic Situation and Banking Sector" by Bas Bakker, IMF Senior Regional Resident Representative - March 28, 2018
2017
- "Belarus: Still in Need of Transition" by Bas Bakker, IMF Senior Regional Resident Representative - KEF 2017, Minsk, November 3, 2017
- Video: Minsk Consensus Panel - KEF 2017, Minsk, November 3, 2017
- “Belarus and the IMF” by Bas Bakker, IMF Senior Regional Resident Representative - KEF 2017, Minsk, November 2, 2017
- Video: Opening remarks by Athanasios Arvanitis, Deputy Director, European Department - KEF 2017, Minsk, November 2, 2017
- Video: Remarks by Pavel Kallaur, Governor of the National Bank of the Republic of Belarus, on the occasion of 25 years of IMF-Belarus partnership - KEF, Minsk, November 2, 2017
- Video: Presentation by Bas Bakker, Senior resident Representative for Central and Eastern Europe, on the occasion of 25 years of IMF-Belarus Partnership - KEF 2017, Minsk, November 2, 2017
- Video: Remarks by Peter Dohlman, IMF mission chief for Belarus, on the occasion of 25 years of IMF-Belarus partnership - KEF 2017, Minsk, November 2, 2017
- Video: KEF Economic Forum Minsk: Belarus and the IMF - November, 2, 2017
- “Belarus and the IMF” by Bas Bakker, IMF Senior Regional Resident Representative - Raubichi, January 25, 2017
2016
- "CESEE Regional Economic Outlook" by Bas Bakker, IMF Senior Regional Resident Representative - KEF 2016: Reforms for Inclusive Growth - Minsk, November 3-4, 2016
- "SOEs Reform: Public Finance Perspective" by Brian Olden, IMF Deputy Chief of the Public Financial Management Division - KEF 2016: Reforms for Inclusive Growth - Minsk, November 3-4, 2016
- “Main Risks for Belarusian Economy and Prospects for Belarus IMF Cooperation” by Bas Bakker, IMF Senior Regional Resident Representative - Workshop "Economic Environment for Business" - Minsk, December 14, 2016
2015
- “25 Years of Transition: Post-Communist Europe and the IMF” by James Roaf, IMF Senior Regional Resident Representative (2013-2015) - Minsk, April 23, 2015 (Russian version available here)
Belarus and the IMF
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EUROPEAN DEPARTMENT PRESS BRIEFING: ECONOMIC OUTLOOK IN EUROPE
October 13, 2023
Europe has weathered indeed well a series of unprecedented shocks, the pandemic, and then the energy crisis, which was triggered by Russia's invasion of Ukraine. What we also saw was that severe downside scenarios were avoided, and I would say this is a big accomplishment. Comparing that when we worked together in last October and the situation looked much different from today.
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IMF Executive Board Concludes 2023 Article IV Consultation with the Republic of Latvia
September 12, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Latvia. Latvia is facing an inflation shock, slow growth, and geopolitical challenges. After averaging 17.2 percent in 2022, headline inflation remained elevated at 12.3 percent y/y in May, largely driven by high energy and food price increases. Core inflation also accelerated to 12.4 percent y/y in May, as the second-round effects of energy prices were broad-based and much stronger than anticipated. The tight labor markets will continue to push up wages, thereby adding to inflationary pressures. Real GDP growth slowed to 2.8 percent in 2022 from 4.3 percent in 2021, largely reflecting lower increase in inventories and slower fixed investment growth. The government will have to continue to deal with the spillovers in the Baltic region from the Russian invasion of Ukraine and the impact of sanctions imposed on Russia and Belarus, the cost-of-living crisis, and energy security.
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Belarus: Technical Assistance Report-Financial Accounts and Balance Sheet Statistics Mission
October 25, 2022
Series:Country Report No. 2022/330
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May 13, 2022
Series:Country Report No. 2022/140
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Republic of Belarus: Staff Concluding Statement of the 2021 Article IV Mission
December 20, 2021
April 19, 2024
Soft Landing in Crosswinds for a Lasting RecoveryA soft landing for Europe’s economies is within reach. Securing the baseline of growth with price stability will require careful monetary policy calibration. Faster fiscal consolidation would ensure buffers are adequate to tackle future shocks, while structural fiscal reforms would help address mounting long-term expenditure pressures. Beyond the near-term recovery, raising potential growth prospects calls for efforts at both the domestic and European levels. Measures should aim to raise labor force participation, prepare the workforce for looming structural shifts, set an enabling environment for private investment, and promote innovation on a level European playing field—especially when it comes to the green transition, including through a strong commitment to carbon pricing. Greater European integration would amplify the effect of these reforms. Formulating an ambitious set of growth-enhancing reforms should be a key priority of a new EU commission.
Read the Report