IMF Staff Country Reports

Republic of Belarus: 2011 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

Publication Date:

March 9, 2011

Electronic Access:

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Summary:

Belarus’s economy grew rapidly but remained vulnerable to external shocks. Under the IMF-supported program, Belarus avoided loss of output during the global recession, contained inflation, and increased gross reserves. The structural reform agenda focused on economic liberalization, a shift in investment from the housing sector to the tradable sector, a smaller role of the state, and the development of the financial sector. Post-program monitoring was proposed. Establishing a development bank to administer lending under government programs would free the central bank and commercial banks from quasi-fiscal activity.

Series:

Country Report No. 2011/066

Subject:

Balance of payments Banking Credit Current account deficits Exchange rate flexibility Exchange rates External debt Foreign exchange Money

Notes:

Also available in Russian