Belarus To Steady FX Market With $800M

Belarus will use $800 million of its stabilization loan to balance its foreign exchange market,RIA Novostireports. The Eurasian Economic Community, led by Russia, had agreed to provided Belarus a $3 billion bailout loan.

The first tranche of the loan worth $800 million was released on June 21, 2011. The country is also planning to secure about $8 billion from theInternational Monetary Fundto stabilize its finances.

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