Russia rushes to bail out Belarus

Print version
April 19, 2011, 3:51 p.m. | Russia and former Soviet Union — by Reuters


Russia wants to finish negotiations for a loan to cash-strapped Belarus within a month, offering conditions similar to those typical of an International Monetary Fund programme, Finance Minister Alexei Kudrin said over the weekend. "I would like to finish it all within a month," Kudrin told journalists on the sidelines of the IMF and World Bank spring meetings in Washington.

"But it all depends on whether there are difficulties with questions that we are dealing with right now," he said, without elaborating.

Belarus is seeking a $1 billion loan from Moscow and $1.7 billion from a Russia-led regional bailout fund as it is running out of foreign-currency reserves due to a big trade deficit and overspending in the run-up to the December 2010 presidential election.

Russia has asked Belarus to submit a credible plan for economic stabilization, and Kudrin said Moscow would like to issue the loan on terms similar to those typical for IMF standby programmes.

"I think that those proposals and the criteria that we will stick to will ... in my opinion, 80 percent, meet the requirements of the IMF," Kudrin said.
The Kyiv Post is hosting comments to foster lively public debate through the Disqus system. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. The Kyiv Post will ban flagrant violators. If you think that a comment or commentator should be banned, please flag the offending material.
comments powered by Disqus


© 1995–2015 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.