Don’t let the money to mess up the reforms: Few notes on the new round of Belarus – IFIs negotiations

Last week the Belarusian delegation represented by top economic officials attended the Spring Meetings of the World Bank Group and the International Monetary Fund. According to the Belarusian media, they planned to discuss a joint program of the Government and the National Bank on macroeconomic stabilization and structural reforms. Representatives of the economic authorities announced that they will present the related “roadmap” to the IMF and the EurAsEC Anti-Crisis Fund (ACF) in order to get the support for this program from both institutions. Although the “joint program” was not presented to the public yet, some general remarks about the lessons learned from the previous programs of Belarus and these IFIs and about several important elements of the new program look reasonable.