Minsk, Oct. 21 (Interfax) - The World Bank plans to start developing a new strategy for Belarus in 2012, World Bank Country Director for Belarus, Ukraine and Moldova Martin Raiser said at a briefing in Minsk on Friday.
"We will begin working on a new strategy next year. We intend to do this. As part of this process, new projects, which are currently at early discussion stages, will be considered. The recommendations made by ourselves and the IMF are useful for Belarus, regardless of whether there is a program or not. We are 100% behind IMF recommendations," Raiser said.
The World Bank country director did not comment on the possible impact of the political motives of country members in the board of directors on terms for devising and approving a new strategy for Belarus.
The Bank is impressed by the National Bank of Belarus’ exchange rate unification, which took place yesterday, Raiser said.
"We suggested doing this back in the spring," he added.
"We share the IMF view on the macroeconomic situation in Belarus. We have a favorable impression of the draft macro-forecasts for 2012, aimed at stabilizing the economy and not economic growth," he said.
For Belarus it is necessary to move from the pre-crisis economic model to a new model, Raiser said. "Much work needs to be done for this," he said, adding that the World Bank is ready to provide technical support.
The Belarusian authorities need to reject quantitative target indicators.
It is "comparatively easy to put this into legislation but practical implementation of this approach requires changing the behavior models of officials and departments," Raiser said.
The former World Bank strategy for Belarus was officially completed in July 2011. The World Bank earlier associated the possibility of adopting a new strategy for Belarus with the start of a new IMF program in the country.
Belarus became a member of the World Bank in 1992. The country has received $865 million for 12 projects. Around 30 national programs received grants totaling $22.8 million.
Belarus is currently receiving funding for 5 investment projects – road infrastructure, energy efficiency, water supply and waste management improvements and infrastructure development in areas affected by the Chernobyl disaster.
