OREANDA-NEWS. Belarus counts on receiving a larger helping of financial aid in the framework of the EurAsEC Bailout Fund's standby programme, Belarus Economy Minister Nikolai Snopkov told on the sidelines of the EU's Eastern Partnership summit in Vilnius.

The Anti-Crisis Fund decided in June 2011 to provide Belarus with a stabilizing loan of U.S. USD 3 billion. Minsk has already received five tranches, totalling USD 2.56 billion.

“There are talks in progress with focus on the final tranche. The parties analyse the economic situation to see whether the country has succeeded in fulfilling its commitments,” Snopkov said. In his words, Belarus was supposed to optimize its excise tax policy and prices for staple foods. “All this would provoke inflation growth, inflation being one of the key indicators of the standby programme,” the minister said. Snopkov made it clear that Belarus has failed to live up to its programme commitments with regard to inflation.

The arrival of the final tranche of the standby programme was put on hold following the conflict with Uralkali, however Belarus hopes there will be no obstacles. At least, Belarusian President Alexander Lukashenko said so in late October. Earlier, the Russian Deputy Finance Minister Sergei Storchak said that the detention of Uralkali's CEO Vladislav Baumgertner in Minsk will not affect the provision of the final sixth tranche.

“Following the negotiations it will be decided whether the programme should be closed or extended. I think it would be worthwhile extending the programme and adjust its parameters in 2014-2015. The indicators that we failed to live up to are no longer relevant and new indicators should be adopted for the following years,” the minister said.

“I would count on enlarging the amount of the final tranche. The talks are in progress, and the amount will most likely be discussed after concept of the programme is discussed with focus on the activities that will have to be conducted,” the official said.