MINSK, 15 April (BelTA) – The Finance Ministry expects the International Monetary Fund (IMF) to consider Belarus' application for rapid financing due to the deterioration of the global economic situation by the end of April, the press service of the Belarusian Finance Ministry told BelTA.
According to the source, Belarus has contacted the IMF with a request to provide financial resources via the Rapid Financing Instrument. The European department of the International Monetary Fund has already made a positive decision on granting financial resources to Belarus. The IMF Executive Board is expected to decide on the matter by the end of April.
BelTA reported earlier that the IMF's Rapid Financing Instrument is designed to help IMF member states by supporting the measures the authorities implement to overcome situations that require urgent actions.
Previously the IMF stated it is ready to provide up to $40 billion for this purpose to the countries with an average level of income taking into account the drastic deterioration of the global economic situation brought about by the coronavirus pandemic. Depending on the terms of access to the IMF's Rapid Financing Instrument, Belarus may claim the equivalent of roughly $900 million.
