Business news

NEW YORK, 28 September (BelTA) - Belarus’ cooperation prospects with the International Monetary Fund (IMF), including a possible new cooperation program, were discussed at a meeting between Belarus President Alexander Lukashenko and IMF Managing Director Christine Lagarde on 26 September, BelTA informs.

The head of state expressed hope that the new program will use a balanced approach to take into account the interests of the country and its policy, ensuring a high level of social security of its people.

The President thanked the IMF for a successful implementation of the Stand-by arrangement for 2009-2010 which softened the negative consequences of the external economic crisis.

The $2.46 billion Stand-By arrangement was approved in January 2009 for the period of 15 months. Later the program was extended to $3.52 billion. In April 2010 the program was successfully accomplished. In 2010-2014 Belarus was visited by the IMF post-program monitoring missions. The loan was paid off in full in March 2015. Measures and events implemented under the program helped the country secure a positive dynamics on a number of economic and monetary positions.