IMF keeping 'close watch' on Belarus after calls to limit reserve funds for country

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IMF keeping 'close watch' on Belarus after calls to limit reserve funds for country
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The International Monetary Fund (IMF) said on Thursday it was monitoring the situation in Belarus closely, amid calls for the global lender to limit disbursement of new emergency reserves to the hardline government of president Alexander Lukashenko.

Spokesman Gerry Rice said the lender was keeping close tabs on the matter, but the IMF was guided in its actions by the international community, which "continues to deal with the current government in the country."

But experts say as long as the IMF's members continue to recognise the government of Lukashenko, the fund cannot take more forceful action. In the case of Venezuela, the IMF has said it will not hand over the country's $5 billion share of the new SDRs - or allow it to access existing SDRs - due to an ongoing dispute over whether President Nicolas Maduro is the legitimate leader of the South American country.

A separate IMF spokesperson said the political crisis in Venezuela and lack of clarity in the international community over official government recognition for the country triggered that decision.

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