OREANDA-NEWS. May 21, 2012. Belarus keeps hoping that the IMF might launch a new stand-by programme to the tune of USD 3.5 billion, NBB Board Chairwoman Nadezhda Yermakova told reporters Thursday.

“Both the government, and the National Bank confirm their application filed in May 2011 that states Belarus would like to get a new IMF stand-by programme running,” Yermakova said.

The NBB chief referred to the latest visit to Washington, where she had top level meetings with World Bank executives. “Those we have met would show profound respect for the progress Belarus had made in the last six months. They said they would support Belarus during the decision-making process.” Yermakova said.

The NBB chief fears that some members of the Board of Directors might freeze the launch of the IMF’s new programme in Belarus. “It is possible that not everyone from the European Union will support us but we hope that common sense will prevail,” Yermakova said.

Belarus is not asking the IMG for another loan, but “simply requests to refinance the previous loan so that the total value of the credit would stand at USD 3.5 billion,” Yermakova said.

The NBB chief assured Belarus could pay back the previous loan independently.

“The refinancing request is not so much about the money, but about technical aid. We want to get expert advice when we need it most,” Yermakova said.