Russia ready to provide over $6 billion in support to Belarus

2011-05-17 23:24:53 GMT+7 (ICT)

MINSK, BELARUS (BNO NEWS) -- Belarusian President Alexander Lukashenko on Tuesday said that Russia is ready to provide over $6 billion in support aid to his country, BelTA news agency reported.

"We are in negotiations with Russia on getting a stabilization loan to support the exchange rate of the Belarusian ruble. In all negotiations they are ready to respond promptly if we want it," said the Belarusian leader.

Lukashenko spoke with his Russian counterpart Dmitry Medvedev and reportedly agreed on an initial $3.1 billion loan. The Belarusian president said the signing of the agreement will be done in the coming days.

"Future sales of our products will be about $3 billion. The total will be over $6 billion," added Lukashenko. "It will be sufficient for stabilization and for having solid foreign exchange reserves."

Mikhail Myasnikovich, Belarus' Prime Minister, said that employment has increased by 15,600 new openings in comparison with 2010. However, he also noted that financial resources are vastly needed as the Belarusian ruble continued to fall on Monday.

Russian Finance Minister Alexei Kudrin said that Belarus could only be loaned $1 billion rather than $3 billion. Kudrin said that instead Minsk needed to accelerate privatization of state assets and turn to the International Monetary Fund.

-- © BNO News All rights reserved 2011-05-17

I wouldn't give them anything unless that skunk Lukashenko resignes from his position.