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On the verge of crisis? Mounting economic problems in Belarus. OSW Commentary No. 51, 2011-04-06

Klysinski, Kamil (2011) On the verge of crisis? Mounting economic problems in Belarus. OSW Commentary No. 51, 2011-04-06. [Policy Paper]

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    Belarus’s financial condition has visibly worsened since the beginning of this year. The severe falls in the country’s foreign currency reserves and its shortage of foreign currency on the international market pose an increasing threat to the stability of the Belarusian economy. Fearing an outbreak of public dissatisfaction, The government has so far been trying to avoid devaluing the rouble or structural economic reforms. Maintaining full control inside the country and the stability of the authoritarian regime are still the main concerns for President Alyaksandr Lukashenka. For this reason, the actions taken by the Belarusian government have been limited to imposing short-term administrative restrictions on the foreign currency market and obtaining external support in the form of loans. Given Belarus’s falling creditworthiness, Minsk is only able to ask Russia for financial support, thus offering the Kremlin more opportunities to realise its desire to take over strategic industrial plants in Belarus. However, the present economic problems of Belarus are so serious that no loan will be able to safeguard its government from the need of carrying out serious economic reforms.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Countries > Belarus
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for Eastern Studies (OSW) > OSW Commentary
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 11 Dec 2014 14:27
    Number of Pages: 6
    Last Modified: 11 Dec 2014 14:27

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