Belarus asks IMF for $2-billion loan

The National Bank of Belarus (NBB) has requested a $2-billion stand-by loan from the International Monetary Fund (IMF), Interfax Zapad reported.

On October 21, Russian Finance Minister Aleksey Kudrin announced that Moscow had decided to give Belarus a $2-billion stabilization loan, with one billion to be provided in 2008 and another the following year.

Belarus needs the IMF loan to sustain growth and create a safety cushion in the face of a global financial crisis, said the NBB.