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Despite the united efforts of the government and the National Bank, the economy is growing very slowly. Belarus remains an economic wonderland.

But if several years ago the growth rates were miraculous, today the miracle is the absence of growth under the expansionary monetary policy and stimulation of investment. Is Belarus in a development recession?

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As the next summit of the Eastern Partnership to be held in Vilnius in fall 2013 is approaching, the long-standing discussion on strategy towards the Belarusian regime reemerges. Last week, two figures from the western world publicly voiced opposite approaches to the Belarus problem.

During his visit to Lithuania, David Kramer, the head of the Freedom House NGO, stated that...

International agency Standard&Poors in April increased Belarus' credit rating from B- (negative) to B (stable). The agency i observed the signs of financial stabilisation in Belarus economy. Although inflation is still very high, it began to slow down, the pressure on devaluation of Belarus ruble decreased and foreign reserves increased.

Just in September 2011 Standard&Poors...