Belarus is seeking to introduce new measures to stabilize its currency next week, The Wall Street Journal reports. The ruble had been devalued 36% in May after pre-election spending led to deficit in the country’s current account and exhausted reserves. Additional measures will be taken to prevent weakening of the exchange rate following a rise in the difference between the Belarusian ruble’s official and black market exchange rates. In June, the nation had secured a $3 billion funding from a Russia-led bailout fund, which will only be released over the next three years. The International Monetary Fund has also been requested for a funding of up to $8 billion.
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