MINSK, Oct 29 (Reuters) - Belarus is ready to liberalise its economic policies as it seeks a $2 billion cushion against the impact of the global financial crisis from the International Monetary Fund, an official said on Wednesday. The talks with the ex-Soviet state follow a preliminary agreement between the IMF and Ukraine on a $16.5 billion standby loan and a "substantial financing package" with Hungary. Iceland and Serbia are among others who have turned to the Fund. Belarus' deputy central bank head Vasily Matyushevsky told reporters he was optimistic about the loan as an IMF mission held talks with top Belarussian officials in Minsk. "Our macro goal is for this credit not to be used at all. In the current situation we don't need this money... But we don't know how deep the global crisis is," he said. "Belarus is asking for the loan, but it is not in crisis."
The talks with the ex-Soviet state follow a preliminary agreement between the IMF and Ukraine on a $16.5 billion standby loan and a "substantial financing package" with Hungary. Iceland and Serbia are among others who have turned to the Fund.
Belarus' deputy central bank head Vasily Matyushevsky told reporters he was optimistic about the loan as an IMF mission held talks with top Belarussian officials in Minsk.
"Our macro goal is for this credit not to be used at all. In the current situation we don't need this money... But we don't know how deep the global crisis is," he said. "Belarus is asking for the loan, but it is not in crisis."
"Belarus is asking for the loan, but it is not in crisis."
Belarus could be in good position in regard to credit, but if credit squeeze takes hold in Russia, neighboring countries, especially Ukraine and Belarus, are going to get a bad case of cold due to contracting exports to Russia. Belarus heavy machinery exports can be hit hard; still, looks like the country is better prepared for the crisis compared to Ukraine where pro-Western (tm) president failed to use good times to modernize economy.
