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27 November 2019, 11:00

Belarus sees no prospects for new program with IMF in 2020

MINSK, 27 November (BelTA) – We see no prospects for a new program with the IMF in 2020, Belarus' Finance Minister Maksim Yermolovich told the media, BelTA learned.

Maksim Yermolovich noted that the IMF would like to see faster reforms in the public sector, more active increase in utility tariffs. “We are still at odds over the speed of these actions. I do not think that we will be able to reach an agreement on these two positions next year," the minister said.

Nevertheless, Belarus will cooperate with the IMF and the World Bank as it works on a program of social and economic development for the next five-year term. “We will heed to their proposals, their vision of the economic policy,” he said. Belarus intends to compile a program of social and economic development drawing on a large array of opinions and positions. “We cannot reject anything or accept anything at face value. Given the goal to achieve the GDP of $100 billion, we will need out of the box solutions in the program for the next five-year term,” the minister stressed.

Maksim Yermolovich noted that changes in the Belarusian economy are already taking place. “The system of management of state-owned enterprises is also changing, and steps are being taken to improve the efficiency of the public sector. Many decisions have been made with respect to the agricultural industry,” he added.

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