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- Belarus-Turkey: The ways of cooperation - 2009
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Head of Press Service of the Ministry of Finance of Russia Andrey Matveev said on August 25 that it's premature to talk about changing the loan schedule for Belarus under the Eurasian Economic Community. "The decision is made on the basis of indicators for the implementation of measures to stabilize the economy, defined by certain terms for the loan," said the representative of the Russian Ministry of Finance.
Andrey Matveev noted that the final decision would be taken by the Council of EurAsEC Anti-Crisis Fund, which is headed by Russian Finance Minister Alexei Kudrin. In the meantime, the date of board meeting is uncertain. It is expected that it should be taken by this October, reports Prime agency.
"We believe that it's premature to talk about the way the loan conditions are implemented," said Andrey Matveev, noting that the Russian side is continuously monitoring the execution of the reforming program in Belarus.
Meanwhile, as Telegraf previously reported, August 25, managing director of corporate finance of the Eurasian Development Bank (EDB) Dmitry Krasilnikov said the EEC Crisis Fund might defer the second tranche of Belarus. Dmitry Krasilnikov explained that there're no talks about the abolition of the second tranche, as the fund keeps on negotiating with Belarus.
The representative of the EDB also noted that so far Belarus had failed to meet the full requirements of the organization necessary for granting the loan. EDB, in particular, demanded to introduce single national currency, to restore the public confidence, as well as to stabilize fx reserves.
Under the agreement, Belarus will receive $3 billion from the EurAsEC fund within three years in several tranches: $1.24 billion - in 2011, about $800 million - in 2012 and $1 billion - in 2013. Belarus received the first tranche of $800 million in June, and expects to receive the second part in the fall.
