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Republic of Belarus : fifth post-program monitoring discussions.

Author: International Monetary Fund.
Publisher: Washington, D.C. : International Monetary Fund, ©2014.
Series: IMF country report, no. 14/18.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
"The current account is worsening, coinciding with peak debt service, limited market access, and low reserves. Although the authorities have taken ad hoc measures to curb acute exchange rate pressures during the summer, a stronger policy response is urgently needed to reduce external imbalances and mitigate risks. Challenges: Facilitating external adjustment through a consistent set of policies is the key short-term  Read more...
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Details

Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund.
ISBN: 1484382943 9781484382943
OCLC Number: 869233970
Notes: Title from PDF title page (IMF Web site, viewed Jan. 27, 2014).
"January 2014."
"November 25, 2013"--Page 2 of pdf.
Description: 1 online resource (63 pages) : color illustrations.
Series Title: IMF country report, no. 14/18.

Abstract:

"The current account is worsening, coinciding with peak debt service, limited market access, and low reserves. Although the authorities have taken ad hoc measures to curb acute exchange rate pressures during the summer, a stronger policy response is urgently needed to reduce external imbalances and mitigate risks. Challenges: Facilitating external adjustment through a consistent set of policies is the key short-term priority. The medium-term challenge remains to increase efficiency and competitiveness through deep structural reform, with strong measures taken up front to enhance credibility. Policy recommendations: No further wage increases in 2013-14, to curb demand and regain competitiveness; Sharply reduce directed lending, to limit credit growth and contingent liabilities, and reduce external imbalances; Substantially scale back foreign exchange market intervention and tighten monetary policy to facilitate exchange rate and balance of payments adjustment; Adopt comprehensive and ambitious structural reforms to raise sustainable growth"--Abstract.

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