Belarus is close to securing a $400 million loan from Iran and $1 billion from Russia’s biggest state-controlled bank, The Wall Street Journal reports. The Belarusian ruble has lost three-fifths of its value against the dollar in the past year, and forex reserves have fallen to a level that puts the economy at risk.
Meanwhile, the International Monetary Fund (IMF) is starting a visit to the country Tuesday to review progress in reforms that might justify a loan. Belarus is seeking about $7 billion in IMF financing, but a smaller sum is more likely, or maybe none at all.
Click here for the story from The Wall Street Journal.