OREANDA-NEWS. October 5, 2011. Belarus’ government takes it for granted that the next tranche of the EurAsEC Stabilization Fund loan will arrive by the end of 2011, as planned, Belarus’s vice-premier Sergei Rumas told in Minsk.

The government has been true to all commitments specified by the economic reform programme handed down by the EurAsEC Stabilization Fund, Rumas said. “By acceding to the programme, we agreed to meet all conditions and get all credit tranches”, the vice premier explained.

Plagued with serious economic trouble, Belarus has been facing an acute deficit of foreign cash and high inflation triggered by landslide devaluation of the Belarusian ruble this year. To stabilize the situation, the Government of Belarus arranged for a USD 3 billion loan from the EurAsEC Stabilization Fund to be drawn by installments in a three-year period. In June the first tranche of the stabilization loan was received to the tune of USD 800 million. The second tranche of USD 440 million is due by late 2011. The loan is pegged to Belarus Government’s will and determination to go ahead with economic reforms and privatization of state property. The agreement splits the loan into six tranches to be drawn in 2011-2013.