IMF praises Belarusian government, central bank for reducing inflation

05.03

MINSK, 5 March (BelTA) – The government and the National Bank of the Republic of Belarus have managed to reduce inflation and misbalance, said Chief of the IMF mission in Belarus Chris Jarvis on 5 March after the mission’s work in Belarus was completed.

“We’ve just finished working in Belarus. During the mission we enjoyed outstanding cooperation with the government and the National Bank,” said Chris Jarvis.

Chris Jarvis announced results achieved by the IMF mission during its stay in Belarus since 22 February 2012. According to the IMF, over the last few months the government and the National Bank have achieved success in reducing inflation and the external misbalance. The result owes a lot to the proper policy, Chris Jarvis believes. “After the exchange rates were unified in October, people’s confidence in their ability to buy foreign currency grew stronger,” said Chris Jarvis. People’s trust in the Belarusian ruble has been bolstered by positive interest rates (in real terms) for ruble deposits.

Besides, according to the mission’s report the government and the National Bank have worked out a level-headed economic policy for 2012. The policy involves a balanced budget, frugal credit support for government programs and tight control over lending.

“It is a good platform to rely on, however, a lot has yet to be done,” remarked Chris Jarvis. With this in mind it is necessary to work out a sequential plan for the economy.

External source of this news: http://news.belta.by/en/news/econom?id%3D676000

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IMF praises Belarusian government, central bank for reducing inflation

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