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IMF Criticizes Belarus Plan For Pre-Election Giveaways

IMF Criticizes Belarus Plan For Pre-Election Giveaways

29 September 2010 08:27 (UTC +04:00)

Baku - APA-Economics. The International Monetary Fund (IMF) has criticized plans to raise public sector pay in Belarus by one-third in advance of the country’s forthcoming presidential election, RadioFreeEurope/RadioLiberty reported.

IMF representative Natalya Kolyadina said the increases lacked economic basis and broke agreements the fund had made with Belarus because, as she said, "such a significant hike, undoubtedly, does not meet our agreements."

President Alyaksandr Lukashenka, who is seeking a fourth term, announced on September 26 that besides the public sector wage rises, the minimum wage would jump by 5 percent to around $500 on November 1.

The increases are expected to cost $2.3 billion and double Belarus’s expected budget deficit.

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