Belnovosti.by: EDB requests that Belarus take account of mistakes made in the previous stabilisation programme
As stated on the website of the Eurasian Fund for Stabilisation and Development (EFSD), Eurasian Development Bank (EDB) welcomes Belarusian authorities' efforts focused on macroeconomic stabilisation.
EDB notes that the tough monetary and fiscal policy prevented another wave of inflation, as it happened in previous years, despite the significant weakening of the Belarusian currency.
According to EDB experts, it is important that Belarus search for internal reserves to improve its competitiveness and this is key to stabilising the situation and ensuring stable growth.
In the beginning of 2015 Belarus applied for a new US $3 billion credit to the EurAsEC Anti-Crisis Fund (renamed as the EFSD).
EDB intends to submit its revised opinion on Belarus' application at the meeting of the EFSD Council in the fourth quarter of 2015.
Additional Information: The Eurasian Fund for Stabilisation and Development (the former EurAsEC Anti- Crisis Fund) totalling US $8.513 billion was established on 9 June 2009 by the governments of Russia, Armenia, the Kyrgyz Republic, Belarus, Kazakhstan and Tajikistan. The main objectives of the Fund are to help its member countries mitigate the negative effects of the global financial crisis, to foster regional integration and to ensure their long-term economic and financial stability.