Balerus receives more bailout fund

2013-02-01 06:35:16 GMT2013-02-01 14:35:16(Beijing Time)  Xinhua English

Belarus has received the fourth tranche of a bailout loan from the Anti-Crisis Fund of the Eurasian Economic Community (EurAsEC), the Finance Ministry said Thursday.

The sum of 440 million U.S. dollars added to the 1.68 billion dollars Minsk had received in the previous three tranches, according to a ministry spokesman.

In June 2011, Belarus and the EurAsEC fund signed a 3-billion-dollar loan agreement, under which the credit will be disbursed in six tranches. The remaining two would be transferred later this year if approved.

The program is designed to rectify Belarus' serious economic imbalances, low gold and foreign exchange reserves and high inflation.

 

 

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