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Belarus needs market forex rate to exit crisis
LONDON : Belarus is doing too little to overcome its financial and economic crisis and must establish a market-based e
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LONDON: Belarus is doing too little to overcome its financial and economic crisis and must establish a market-based exchange rate if it is to emerge from it, Russian Finance Minister Alexei Kudrin said on Friday.
Kudrin also made it clear that such reforms would be necessary to unlock a further bailout loan from a Russia-led fund, as without reform the aid would be wasted.
Speaking in London, Kudrin also said that it would be "difficult" for Belarus to receive support from the International Monetary Fund for the same reason and not only due to international concern over the political situation in Belarus.
"Setting a market exchange rate is a necessary measure for exiting the crisis," Kudrin told a news briefing.
Copyright Reuters, 2010
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