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Republic of Belarus: 2011 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

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  • International Monetary Fund

Abstract

Belarus’s economy grew rapidly but remained vulnerable to external shocks. Under the IMF-supported program, Belarus avoided loss of output during the global recession, contained inflation, and increased gross reserves. The structural reform agenda focused on economic liberalization, a shift in investment from the housing sector to the tradable sector, a smaller role of the state, and the development of the financial sector. Post-program monitoring was proposed. Establishing a development bank to administer lending under government programs would free the central bank and commercial banks from quasi-fiscal activity.

Suggested Citation

  • International Monetary Fund, 2011. "Republic of Belarus: 2011 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion," IMF Staff Country Reports 2011/066, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2011/066
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24697
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    Cited by:

    1. Andrea Kendall-Taylor, 2012. "Purchasing Power: Oil, Elections and Regime Durability in Azerbaijan and Kazakhstan," Europe-Asia Studies, Taylor & Francis Journals, vol. 64(4), pages 737-760.

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