IMF Standby Loan Third Payment Made by Belarus; Awaits New IMF Programme Initiation
Belarus Prepares to Implement New IMF Program
Belarus has announced its readiness to implement a new program with the International Monetary Fund (IMF), according to Finance Minister Andrej Kharkaviec. The Minister did not indicate any barriers for joining the IMF program.
The news comes after Belarus made a third payment of SDR54.7 million ($84.3 million) to repay the principal amount of the IMF's stand-by loan. The first two payments, both amounting to SDR64.7 million, were made in April and July.
The previous payments and the latest one were announced by the finance ministry, as reported by BelaPAN. In total, Belarus is expected to spend a total of $1,631 million this year to service the nation's external debts, with $562.91 million intended for the IMF.
As of September 1, Belarus' external public debt totaled $12.1 billion, with the IMF taking up a significant portion of the debt service payments this year. The established limit for Belarus' external public debt is $14.3 billion.
Andrej Kharkaviec stated that the amount of the potential IMF program is secondary, as it depends on the gap in financing that emerges in the medium term (3 to 5 years). The Minister considers collaboration with the IMF as an important macroeconomic policy of the state.
It is important to note that as of late July 2025, no specific details about a new IMF program for Belarus or the conditions agreed upon have been publicly announced or covered in the sources available. For confirmed details, it is best to consult official IMF press releases directly on their website or statements by Belarusian authorities.
In 2009 and 2010, the IMF disbursed five loan tranches totaling around $3.46 billion under the stand-by arrangement to support the government's stabilization program. The Belarusian delegation held consultations with representatives of the IMF during the Annual Meetings 2012 of the IMF and the World Bank Group.
The economic outlook for Belarus shows a slowdown in growth recently. The Ministry of Economy expects at least 4.1% GDP growth in 2025 with inflation slowing to 5%, though actual economic growth slowed to 2.1% recently.
In conclusion, while details about a new IMF program for Belarus are yet to be announced, the country's Finance Minister has confirmed Belarus' readiness to implement a new program with the IMF. The terms of the possible program are dependent on the gap in financing that emerges in the medium term.
The Finance Minister of Belarus, Andrej Kharkaviec, has confirmed that Belarus is preparing to collaborate with the International Monetary Fund (IMF) to implement a new program, considering it an important macroeconomic policy for the state. This potential program will be contingent upon the financing gap that emerges in the medium term (3 to 5 years), and it is expected that a significant portion of the debt service payments this year will be directed towards the IMF.
