Credit supplements gold and foreign currency reserves
Belarus receives another $440m from Anti-Crisis Fund of Eurasian Economic Community
The Ministry of Finance notes that, this year, Belarus fulfilled its obligations, enabling it to receive its fifth tranche of financial credit from the Anti-Crisis Fund. On April 30th, 2013, $440m was received, as the Ministry of Finance explains, noting that the loan ‘will be used to replenish international reserve assets and finance the Republic’s balance of payments deficit’.
On April 1st, 2013, the country’s gold and foreign currency reserves amounted to $8bn, according to the International Monetary Fund. Two years ago, the Council of the Anti-Crisis Fund of the Eurasian Economic Community approved a financial loan of $3bn for Belarus, with credit allocated in six tranches over two years (in accordance with the 10 year stabilisation programme of the Belarusian Government).
Including the fifth tranche, the country has received $2.56bn so far, to support the balance of payments and replenish international reserves. This year, the Republic expects to receive the sixth tranche, worth $440m.