Mission comes to positive conclusions

International Monetary Fund satisfied with pace of Development Bank’s establishment in Belarus

“We’re pleased with the progress achieved by the authorities in establishing the Development Bank, which is to take on some of the responsibilities of commercial banks regarding financing of state programmes. We hope the Development Bank will decide carefully which programmes to select, while allocating resources to realise the most efficient, contributing to the growth of exports, employment and the economy,” reads the Fund’s announcement, referring to Chris Jarvis, the IMF Head of Mission.

The IMF Mission in Belarus held consultations with the country’s authorities, meeting PM Mikhail Myasnikovich, Deputy PM Sergei Rumas, Finance Minister Andrei Kharkovets, Economy Minister Nikolai Snopkov and National Bank Chairman Piotr Prokopovich, alongside representatives of banks and members of the diplomatic corps. The Mission is grateful for the sincere discussion of issues.

Mr. Jarvis notes, “We welcome the signing of Directive #4 by the Belarusian President, which is to create favourable business conditions over a short period of time. It will support the development of the private sector, enhancing Belarus’ attractiveness to investors. To strengthen transparency and the efficiency of the privatisation process, we’re also recommending that the Government take immediate action to launch the National Investment and Privatisation Agency.”

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