Republic of Belarus; Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement

Belarus was hard hit by the global economic crisis. An exceptional access Stand-By Arrangement (SBA) was, therefore, agreed in early 2009. The program was generally successful and most program conditions were met. The program was overall well designed, but with some shortcomings. While in part owing to external shocks, those problems experienced under the program also reflected rapid directed lending. Lessons from the review are many, the main one is the criticality of incorporating fully ownership, including at the highest levels, in program design and conditionality.

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Year of publication:	2011-05-06
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Economic indicators \| Ex post assessments \| Exceptional use of Fund resources \| Fiscal reforms \| exchange rate \| exchange rate regime \| external trade \| external shocks \| foreign exchange \| current account deficit \| exchange rates \| effective exchange rate \| real effective exchange rate \| terms of trade \| exchange rate policy \| balance of payments \| real exchange rate \| trading partners \| partner country \| currency basket \| domestic demand \| short-term debt \| external financing \| price liberalization \| partner countries \| exchange rate devaluation \| foreign exchange reserves \| exchange rate realignment \| exchange rate regimes \| current account balance \| trading partner \| flexible exchange rate \| domestic banks \| exchange reserves \| exchange rate level \| oil prices \| sales taxes \| foreign exchange markets \| foreign exchange rate \| real effective exchange rates \| domestic investment \| external credit \| trade shocks \| terms-of-trade shocks \| basket of currencies \| net exports \| vulnerability to shocks \| trade shock \| world prices \| trade patterns \| effective exchange rates \| balance of payments crisis \| exchange markets \| forward market \| exchange rate adjustment \| multiple currency practices \| import demand \| import costs \| import restrictions \| exchange rate arrangements \| alternative exchange rate \| nominal interest rates \| flexible exchange rate regime \| cross exchange rates \| exchange rate flexibility

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 11/99 3 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011242604