In ENGLISH | РУС/УКР
Sign in | Register
Mobile version | Subscription | RSS Archive
KyivPost

Russia rushes to bail out Belarus

Print version
April 19, 2011, 3:51 p.m. | Russia and former Soviet Union — by Reuters
SEE ALSO
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.
READ MORE IN SECTION
The Kyiv Post is hosting comments to foster lively debate. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. If you think that a posted comment violates these standards, please flag it and alert us. We will take steps to block violators.
Anonymous April 19, 2011, 4:28 p.m.    

Only the Russians will help 'The Last Dictator in Europe'. Serves him right. As usual the poor people of Belarus will suffer because of one man and his continual desire for control.

{# <-- parent id goes here
Anonymous April 19, 2011, 6:23 p.m.    

This is why Ukraine should join the EU.

{# <-- parent id goes here
Anonymous April 20, 2011, 12:23 a.m.    

You obviously aren't aware of all the bail outs in the EU.

{# <-- parent id goes here
Anonymous April 20, 2011, 2:25 a.m.    

lol, no EU country is as pathetic as Belarus

{# <-- parent id goes here
Anonymous April 20, 2011, 4:57 a.m.    

With a name like Matei you are obviously a kike and anti-slavic. Do you take your orders from olexander Feldman?

{# <-- parent id goes here
Anonymous April 19, 2011, 7:25 p.m.    

Belarus is doing so well in that Belarus-Russia-Kazakhstan customs union! We should join!...not!

{# <-- parent id goes here
Anonymous April 19, 2011, 10:14 p.m.    

ask greece about Eu..... or maybe portugal there doing so well.

{# <-- parent id goes here
Anonymous April 20, 2011, 2:24 a.m.    

They are doing terrible on a relative scale, but even then, still 100x better than Ukraine

So what's your point?

{# <-- parent id goes here
Anonymous April 20, 2011, 4:56 a.m.    

EU countries like Romania are prospering??? I don't think so. Ireland, Portugal, Greece are all in trouble economicaly. They have been long time EU members.

{# <-- parent id goes here
Anonymous April 19, 2011, 11:15 p.m.    

Yes sireeee....joining the Customs Union would be such a plus. Look where its gotten Belarus!

Only one way to go ukraine....that is towards the civilized West and the EU.

Any other consideration would be absurd.

{# <-- parent id goes here
Anonymous April 20, 2011, 1:37 a.m.    

quote:

... in my opinion, 80 percent, meet the requirements of the IMF,&quot; Kudrin said.

But the remaining 20% are going to hurt. So much for Lukashenka's much vaunted economic miracle.

Read more: http://www.kyivpost.com/news/russia/detail/102501/#ixzz1K0ku44cF

{# <-- parent id goes here
Advertising link

KyivPost

© 1995–2012 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the www.kyivpost.com 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 news@kyivpost.com
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.