The IMF is satisfied with Belarus's economic policy

August 25, Minsk /Lyudmila Sats - BELTA/. The International Monetary Fund is satisfied with the economic policy pursued by Belarus. This was stated today by Marek Belka, Director of the IMF's European Department, at a meeting with Belarusian Prime Minister Sergei Sidorsky, BELTA correspondent reports. "Overall, we are satisfied with the general directions of the economic policy pursued by the Belarusian government," Marek Belka noted. He recalled that another mission of IMF experts is currently working in Minsk. The mission's work is carried out in two main areas: the second review under the "stand-by" credit program and regular consultations under Article IV, which are a traditional tool for monitoring the development of each member country of the IMF. In the first case, discussions are mainly focused on short-term issues. The most pressing issue here is the low level of foreign reserves, which could pose a danger to the country's stability, Marek Belka believes. The IMF and Belarus program, which ends early next year, is focused on resolving this issue. In addition, this issue is the main topic of discussion between IMF experts and the leadership of the National Bank and the Ministry of Finance. "We are discussing it from the perspective of credit flows and their impact on reserve outflows, and from the perspective of fiscal policy and its impact on domestic demand, which in turn affects the level of reserves," explained the Director of the IMF's European Department. As for long-term issues discussed under Article IV, they, in particular, provide for resolving the issue of how to ensure the continuation of high economic growth rates observed in Belarus in the pre-crisis period. -0-