Azernews.Az

MINSK – Belarus said on Tuesday it may ask the International Monetary Fund for financial help and expressed confidence that Russia would extend about $6 billion to support the troubled economy of its western neighbour, Reuters reported.

"Belarus does not exclude the possibility of asking the IMF for credit support," the press service of President Alexander Lukashenko said, quoting Prime Minister Mikhail Myasnikov.

The next IMF mission to Belarus is scheduled for June.

Earlier on Tuesday, Lukashenko said that Russia was ready to provide the former Soviet republic with $6 billion in financial help.

Russian Finance Minister Alexei Kudrin, however, reiterated that talks with Belarus were over a potential $3 billion loan over three years from a regional anti-crisis fund, and said Belarus could raise another $3 billion through privatisation.

Kudrin said he hoped the countries could reach agreement on the loan when Russian Prime Minister Vladimir Putin visits Minsk on Thursday.

"We are conducting negotiations about a stabilisation loan to support the Belarussian rouble," Lukashenko's press office quoted the Belarus president as saying earlier on Tuesday.

"They're ready to (provide it) quickly, if we need it ... and it would be about $3.1 billion."

The other $3 billion would come in expedited pre-payments for Belarussian goods sent to Russia, Lukashenko said.

Kudrin, however, stressed that the potential $3 billion loan "with the aim of macroeconomic stabilisation and deficit coverage" would come in yearly $1 billion installments, and said Belarus would have to earn the other $3 billion through privatisation. He said nothing about pre-payment for goods.

"It is assumed that several assets will be privatised to support the balance of payments. Judging by the needs for this year, we evaluate this at about $3 billion," Kudrin said.

"Then the $3 billion that the anti-crisis fund would provide over three years and that could be mobilised by selling assets this year amount to the same figures that Belarus named," he said. "I believe that this will allow Belarus to achieve stabilisation of the situation with its balance of payments and on the Belarussian rouble rate policy."

The statement from Lukashenko followed a telephone call with Russian President Dmitry Medvedev. The Kremlin, in a short statement, did not mention the prospect of any loans to Belarus.

"The heads of state talked about current issues related to integration and cooperation in (the region) ... and exchanged opinions on key bilateral issues," the Kremlin statement said.

The battered Belarussian rouble traded on Tuesday at around 6,200 roubles on the interbank market -- half the official rate quoted by the Belarussian National Bank.

The Belarus currency crisis, which many analysts attribute to extravagant pre-election spending by Lukashenko last year, has led to crowds forming at foreign exchange outlets as Belarussians queue to ditch the rouble for any available dollars.

Belarus operates a multi-level exchange rate system and has lost a quarter of its foreign currency reserves this year trying to support the rouble in the face of a large current account deficit.