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No fundamental disagreements on World Bank's new roadmap for Belarus

Economy 18.10.2019 | 19:17

MINSK, 18 October (BelTA) – Belarus has no fundamental disagreements with the World Bank about the roadmap being prepared to bolster the effectiveness of the national economy, the press service of the Belarusian Economy Ministry told BelTA after a Belarusian delegation led by Economy Minister Dmitry Krutoi met with World Bank Vice President for Europe and Central Asia Cyril Muller in Washington, USA.

Belarus has no fundamental differences of opinion with the World Bank, however, the bank recommends to expedite the implementation of the measures suggested by the roadmap.

The sides have managed to reconcile views on most of the matters relating to the roadmap. The World Bank recommends adopting a two-pronged strategy to reduce economic risks by following a rigid budget policy and preserving the current rigid monetary policy first and taking measures to address structural misbalances second.

The roadmap is primarily focused on the structural component. The sides agreed approaches to bolstering the stability of the financial sector, managing state finance, and developing the financial market. Approaches to improving the social security system are being discussed as well as the policy of tariffs on heating. Negotiations are also in progress on reforming the sector of state-run enterprises.

The Belarusian delegation is in Washington on 16-18 October to participate in annual meetings of the boards of governors of the International Monetary Fund (IMF) and the World Bank Group (WBG). Apart from traditional meetings with top executives of the World Bank Group and the IMF members of the Belarusian delegation are expected to meet with top executives of the European Investment Bank, the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank, and a number of other institutions.

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