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...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2011
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 37 pages 
651 4 |a Belarus, Republic of 
653 |a Depository Institutions 
653 |a Government and the Monetary System 
653 |a Credit 
653 |a Payment Systems 
653 |a Exchange rate arrangements 
653 |a Banks 
653 |a Short-term Capital Movements 
653 |a Banks and banking 
653 |a Currency; Foreign exchange 
653 |a Monetary economics 
653 |a Regimes 
653 |a Current Account Adjustment 
653 |a Micro Finance Institutions 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Balance of payments 
653 |a Exports and Imports 
653 |a Mortgages 
653 |a International economics 
653 |a International Lending and Debt Problems 
653 |a Debts, External 
653 |a External debt 
653 |a Money 
653 |a Foreign Exchange 
653 |a Standards 
653 |a Banks and Banking 
653 |a Currencies 
653 |a Monetary Systems 
653 |a Banking 
653 |a Money and Monetary Policy 
653 |a Foreign exchange 
653 |a Current account deficits 
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520 |a 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