Belarus Seeks IMF Loan of Up to $7 Billion

The Belarusian government hopes to get a loan of $3-7 billion from the International Monetary Fund (IMF), the press service of the country''s Council of Ministers said. Belarusian Prima Minister Mikhail Myasnikovich met with an IMF delegation led by Christopher Jarvis to discuss financial aid to crisis-hit Belarus, according to Russian (RIA Novosti) News Agency. "The [Belarusian] government confirmed it was interested in the resumption in the near term of IMF loan support for the republic ranging from $3 billion to $7 billion," the press service said in a statement. "The sides also noted that the country''s current economic policies are in line with the IMF recommendations," the statement reads. Minsk asked the IMF for help in June after it had to devalue its ruble pressurized by a large trade deficit, generous wage increases and loans granted by the government ahead last December''s presidential election. But the IMF said the government had failed to present a sound economic program and promised to send a new mission to Minsk in October.