Belarus Seeks $8B IMF Loan

Belarus is looking for a $3.5-8 billion bail-out from theInternational Monetary Fund(IMF),金融时报》reports. TheEurasian Economic Community, a group of former Soviet states, will decide on the loan package.

The loan will help in rescuing the ex-Soviet republic from its fiscal crisis. In order to get the funding, Belarus will have to agree to certain criteria, including wide-scale economic reforms and tough austerity measures, as per consultancyIHS Global Insight. The IMF provided $3.5 billion to Belarus in 2009.

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