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. Last Updated: 07/27/2016

Investment Funds to Resume in Belarus

MINSK, Belarus -- Belarussian President Alexander Lukashenko on Wednesday authorized investment funds to resume business, removing a barrier to approval of an International Monetary Fund loan of about $300 million.


Lukashenko ordered the funds to halt their operations in April during the first public auctions of privatization checks in Belarus.


The IMF said the funds must be allowed to operate before it would approve the standby credit, which it is scheduled to review Wednesday.


Belarus reached tentative agreement with the IMF in June on an economic program to support the credit. It must still revise its budget before the loan is approved.


The Privatization Ministry unveiled a list of more than 1,000 enterprises to be sold off by the end of the year -- including large truck plants, a tank factory and pharmaceutical companies. Foreign investors can take part in the sell-off.