belarus turns to iran for loan
Last Updated : GMT 04:22:55
Arab Today, arab today
Arab Today, arab today

Belarus turns to Iran for loan

Arab Today, arab today

Arab Today, arab today Belarus turns to Iran for loan

Tehran - Fars

Belarusian officials announced that Iran had agreed in principle to give it a $400 million loan as Minsk heads into talks with the International Monetary Fund (IMF) on aid.The announcement was made by head of Belarus National Bank Nadezhda Ermakova at the meeting of the seventh session of the Council of Belarus on October 3. Minsk is struggling with a financial crisis that has led to a 60 percent devaluation in its ruble currency this year, driving huge rises in prices for staple goods, including food. The Belarusian central bank may conduct currency interventions at an additional trading session this month to prevent a \"sharp\" jump by the dollar, the Belarusian state news agency BelTA reported, citing chairman Nadezhda Yermakova. In efforts to plug holes in its balance of payments, Belarus has already raised an $800 million in credit from a Russia-led anti-crisis fund and has turned to the International Monetary Fund and Russia\'s Sberbank for further help. Belarus is seeking a $1 billion loan from Sberbank secured with shares in refiner Naftan, Interfax said. The country may get the second $440 million tranche of its Russia-led bailout loan by the end of October, BelTA said, citing First Deputy Finance Minister Vladimir Amarin. Yermakova said agreement in principle had now been reached with Iran for a credit line. \"The issue of about $400 million credit from Iran is being considered. A decision in principle has already been made by the Iranian side,\" Yermakova was quoted as saying by BelTA. She gave no details on the terms of the loan or the level of interest payments. Belarus, which faces a high repayment schedule in 2012 and 2013 on old foreign debt, is hoping for up to $7 billion from the IMF under a new arrangement. An IMF mission is due to arrive in Minsk on Tuesday for a review of economic and structural reforms that it has urged the country to take. \"The mission will begin its work tomorrow. This work might lead to a discussion of a new program. … Its volume may amount to up to $7 billion,\" Amarin told journalists Monday. Officials had previously put the amount they could seek from the fund at up to $8 billion.The International Monetary Fund will not negotiate a new financial aid package to Belarus during a visit on Oct. 5 to 17 by the lender\'s mission to Minsk. \"At the moment, it would be premature to speak about the possible volume of hypothetical IMF assistance for Belarus,\" Natalya Kolyadina, the lender\'s resident representative in the country, said Monday from Minsk. Belarus, which received $3.5 billion from the fund in 2009, requested a new stabilization loan in June. Reaching an understanding on the country\'s macroeconomic framework with the fund would facilitate a new program of assistance, Kolyadina said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

belarus turns to iran for loan belarus turns to iran for loan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

belarus turns to iran for loan belarus turns to iran for loan

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday