IMF: Belarus remains solvent

Belarus remains a solvent country, head of the IMF mission in Belarus Chris Jarvis told reporters. “I am absolutely sure that Belarus is a solvent country. The level of your external debt remains low compared with other European emerging economies,” Chris Jarvis said.

According to him, the fact that the Belarusian authorities are trying to tap international debt markets is justified. The placement of Eurobonds was one of Belarus’ main achievements this year.

At the same time, the IMF stresses the importance that Belarus should maintain a strong basic economic policy. “It is important that this policy should be strong. The country should not rely on external borrowing indefinitely,” the expert added.

According to Chris Jarvis, Belarus’ priority is to reduce the current account deficit. For this, the country needs a good plan, he said. According to the expert, the Belarusian authorities have made such plans within the framework of the social and economic development program for the next five years. “The government is planning to eliminate the current account deficit and, in our opinion, this plan is more ambitious than it is actually required for the Belarusian economy,” he said. A clear plan is also needed to reach this target. “In this regard we have some doubts,” he resumed.

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