IMF to lend Belarus an additional $1 billion

imf-logo Apparently, the IMF mission to Belarus was satisfied with the efforts the country is making to tackle its worst economic crises since early 1990-s.

The fund agreed to extend the second tranche of the financial aid package for Belarus:

WASHINGTON — The International Monetary Fund said Wednesday it will lend an additional $1 billion to cash-strapped Belarus, bringing the total provided by the Washington-based institution to $3.4 billion.

“This increase is justified because Belarus’ financing needs arising from the global financial crisis have increased, and because the government and the central bank are making strong efforts to solve their problems,” the IMF said.

Belarus President Alexander Lukashenko accused Russia of punishing Belarus, its largest trading partner, for refusing to recognize the independence of rebel-held regions of Georgia. Russia denied any link and said the money was withheld for lack of a currency agreement.

Read more at Forbes.com.

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