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. Last Updated: 07/27/2016

IMF Delays Loan Tranche to Belarus, Asks for Progress

KIEV -- The International Monetary Fund wants Belarus to make further progress with market reforms before it will disburse further slices of a standby loan, a senior fund official said Friday.

Ishan Kapur, head of a delegation that met leaders of the former Soviet republic this week, confirmed that a second tranche of the $300 million loan had been postponed. But he said the government had made considerable progress.

"When the money will be freed depends on how fast the authorities move with reforms," Kapur said by telephone from Minsk. "We have seen steps forward and I am more encouraged than, say, three or four months ago. But this does not mean we agree on all things."

The second tranche of about $50 million was to have been extended last month to the country of 10 million. Belarus received the first $70 million installment last September.