As announced today by First Deputy Chairman of the National Bank Taras Nadolny, an International Monetary Fund mission is expected to arrive in Belarus, though the exact timing is not yet known. The visit is scheduled for the near future. Negotiations on conditions for further cooperation with the Fund are expected to continue. Besides, Taras Nadolny has not ruled out the possibility of reducing the refinancing rate before the end of the year.
The refinancing rate in Belarus has decreased four times since the beginning of the year, currently making up 18% per annum. The reduction has not had any serious impact on the country’s deposit market. According to the National Bank, no significant outflow of ruble deposits has been observed.
