BELARUS NEWS AND ANALYSIS

DATE:

19/12/2008

Lukashenko says IMF loan terms acceptable for Belarus

MINSK. Dec 19 (Interfax) - The terms set by the International Monetary Fund for granting a $2 billion loan to Belarus are feasible, said country's President Alexander Lukashenko.

"They said it right: you ask from us $2 billion in loans, which tomorrow will be devoured by this ruble mass. They are absolutely right. We are asking from them, so they are setting the terms. And in this case they did not set any unreasonable terms for us," Lukashenko told Belarusian biggest media executives on Thursday.

"If today we send the enormous mass of Belarusian rubles to the public, where will this money go? People will be changing them into dollars, but if we run out of dollars, what next? That is what will set off a frenzy. So this is no dancing to the IMF tune," the president said.

Commenting on the allegations that the government reduced salaries for public sector workers, Lukashenko said: "They were raised, not reduced. By 5%, though, not by 25%. If the situation is normal tomorrow, we will raise by another 5%, eventually reaching a 25% increase," the president said.

"Strange as it may sound, today the main thing is not the salary, but the stability of the ruble and the financial system and, therefore, of the economy. Economy and stability mean jobs for people. We have millions of people working in our economy," said the Belarusian President.

Source:

http://www.interfax.com/3/456585/news.aspx

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