MINSK, 19 October (BelTA) – A new program on cooperation between the International Monetary Fund (IMF) and Belarus will allow the country to borrow money abroad 1.5-2% cheaper, BelTA learned from Belarusian First Deputy Finance Minister Maxim Yermolovich on 19 October.
According to the source, IMF country programs give more confidence to any investors, including investors that pour money into a company, the development of an economy, or investors that buy government bonds on the international market. “In this case investors are more confident that the country's economy will be able to generate the necessary revenues and pay the debt in the long term. IMF country programs reduce the cost of any borrowings including corporate bonds and government bonds,” noted Maxim Yermolovich.
Experts expect that if the effect is evaluated with regard to government bonds, then as a sovereign Belarus will be able to borrow money on the foreign market 1.5-2% cheaper per annum with an IMF program than without it, stated the official.
