Experts of Citigroup international financial company consider the further devaluation of the Belarusian ruble as necessary. According to David Lubin, the head of the analytical group for emerging markets and the leading economist, the current exchange rate of Belarusian ruble remains unstable, despite Russia's financial bailout.
According to the international experts, the Belarusian authorities should carry out structural changes in the financial system, including the introduction of free exchange rate. It has also become one of the IMF conditions, where Belarus applied for another loan to, reports Bloomberg.
Meanwhile, Citigroup analysts say the IMF is unlikely to provide a loan. «Political problems do not allow national authorities to ensure full implementation of the IMF program,» says David Lubin.
International Experts Rule out Possibility of Default in Belarus
Citigroup analysts believe that a default in Belarus is unlikely over the next two or three years, despite the negative outlook. Experts predict deterioration of the situation by the end of the year and consider the payments, which are to be made by Belarus in 2011, fairly modest — just $85 million.
As Telegraf previously reported, Belarus received the first tranche of the Anti-Crisis Fund loan in June. Belarus plans to use this $3 billion loan, to be paid in installments within three years, for creating a financial «safety cushion.» In addition, the government began discussion of a new program with the IMF to obtain another loan from the organization.
