IMF pushes Belarus to adopt new policy framework
Staff clash with national authorities over exchange rate
The National Bank of the Republic of Belarus (NBRB) has agreed to adopt a new policy framework based on targeting monetary aggregates, but failed to specify a timeline for doing so despite the IMF urging change "without further delay".
The NBRB said in January it would look to exert "tight control" over the money supply in the economy in an effort to curb inflation, but it retains a complex framework involving a range of targets.
The IMF wants more concrete change. "Staff ... recommended that
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