Republic of Belarus: Staff Report for the 2015 Article IV Consultation

May 29, 2015

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Republic of Belarus: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Also available in: русский

Summary

This 2015 Article IV Consultation highlights that Belarus continues to be highly vulnerable to economic shocks, as was illustrated by the turbulence in foreign exchange and debt markets in late 2014. Frequent bouts of expansionary macroeconomic policies, in a context of deep structural rigidities, have fueled inflation and external imbalances and left Belarus dependent on ad hoc external support. In 2015, growth has slowed sharply as high uncertainty, reductions in real incomes, administrative measures, and declining trade with Russia weighed on activity. The outlook is for a recession and continued external pressures. With Russia in a downturn, the Belarusian economy is projected to contract by 2.25 percent in 2015, led by falling exports.

Subject: Banking, Currencies, Directed credit, Exchange rates, External debt, Foreign exchange, Money, Public debt

Keywords: Baltics, Belarusian economy, CR, Currencies, Debt, Devaluation, Directed credit, Eastern Europe, Exchange rates, Financing constraint, Global, Government finance statistics, ISCR, Market, Outlay, Stepwise devaluation, U.S. dollar, Western Europe

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/136
Stock No:

1BLREA2015001
ISBN:

9781513579863
ISSN:

1934-7685

Notes

Also Available in Russian

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