Belarus EU Press Review: September/2011

Quid Pro Quo for Belarus

Although it had no representative at the summit of the European Union and the Eastern Partnership countries, Belarus was in the spotlight of the summit, which ended with a Warsaw Declaration for all and a separate text for Belarus.

EU Foreign Policy: More for More, or More of the Same?

Almost a week ago, the Polish EU presidency proudly announced that over 500 media representatives had asked for accreditation to attend the Eastern Partnership Summit in Warsaw on 29 and 30 September. From the outset it was clear the meeting was mainly a PR exercise and an opportunity for the Polish government to revive one of its pet ideas, especially in the context of elections coming up on 9 October.

Belarus Boycotts Summit in Human Rights Clash with EU

Belarus boycotted a key European Union summit with ex-Soviet states Friday after EU leaders slapped down authoritarian leader Alexander Lukashenko for throwing hundreds of opponents behind bars.

Belarus to Enable Most Comfortable Conditions for Investors

Enabling a favorable business operation environment will be a national priority, said Sergei Rumas. The directive for the development of entrepreneurship initiative and encouragement of business activity in Belarus aims for it, too.

Following Belarus' Sovereign Ratings S&P Downgraded Ratings of Minsk

International rating agency Standard & Poor's downgraded the credit rating of Minsk from 'B' to 'B-' with negative outlook. In addition, the ratings are derived from the list of Minsk CreditWatch ("ratings on review"), where they were included in May 2011. Indicative level of solvency for Minsk was marked as "B+."

EU May Impose New Sanctions on Belarusian Authorities

A source at the Office of the Chancellor of Germany said that if the government of Belarus did not change its policy, the EU sanctions could be tightened. In particular, he said, the EU can expand the visa sanctions against government officials involved in the trials of opposition activists.

Belarusian Authorities Expect $18 Million from Privatization

The Belarusian authorities expect to receive Br100 billion ($17.91 million) from privatization in 2011. This was stated by the first deputy director of the State Property Fund (SPF), Petr Lukyanov, on September 29 in Minsk. He noted that the annual plan of privatization includes 180 companies, five of which were transferred to the National Agency of investment and privatization.

S&P Cuts Belarus Ratings On Reliance On International Loans

Standard & Poor's Ratings Services downgraded the sovereign credit ratings of Belarus a notch further into junk territory on concerns about the Eastern European nation's reliance on international loans.

Belarusian FM invited to Warsaw Eastern Partnership Summit

The Belarusian foreign minister, Sergei Martynov has been invited to the Eastern Partnership summit billed for the end of next week in Warsaw, Poland’s head of diplomacy Radoslaw Sikorski has announced.

Lukewarm Declaration to Mark EU summit in Warsaw

Next week's EU summit in Warsaw will "acknowledge" the "European aspirations" of six post-Soviet countries. But British and French leaders are not coming. And many of the six nations are going backward politically.

Head of National Bank of Belarus Failed to Reach Annual IMF Meeting

Chairman of the National Bank of Belarus Nadezhda Ermakova won't represent Belarus at the annual meeting of the International Monetary Fund and World Bank, which is held on September 22-25 in Washington. The office of the head of the National Bank argued that Nadezhda Ermakova had refused to participate in the meeting since she was busy.

Belarus Should Keep Raising World’s Highest Rates, RenCap Says

Belarus should continue raising its benchmark interest rate, already the highest in the world, as the former Soviet republic seeks to slow inflation amid an economic crisis, Renaissance Capital said.

IMF Sees Positive Changes in Actions of Belarusian Authorities

September 13, Head of the IMF mission in Belarus Chris Jarvis said at a conference on monitoring the situation in Belarus that he had recently seen some positive developments. "For example, a package of measures, agreed with the EAEC anti-crisis fund, most recent statement of President Lukashenko that he intends to allow trading at the market rate, as well as decisions of the National Bank to increase interest rates," he said.

Euronest Starts Working without Belarus’ Participation

The meeting of the first session of the Parliamentary Assembly Euronest "Eastern Partnership," which begins its work on September 14 in Strasbourg, will be held without the participation of the Belarusian delegation. Despite the fact that, formally, Belarus is a member of the "Eastern Partnership," in practice the country is not participating in the parliamentary institution.

Belarus Looks to Getting Into Global Competitiveness Index top-50

Belarus hopes to enter the 2012 Global Competitiveness Index of the World Economic Forum (WEF). The country’s principal objective is to get into the rating’s top-50, deputy head of the main department for macroeconomic analysis and forecasting of the Economy Ministry of Belarus Svetlana Ivanova told media on 12 September.

Belarus to Raise Refinancing Rate to 30% p.a. on 14 September

The National Bank of Belarus is set to increase the rate of refinancing by three percentage points to 30% per annum on 14 September, BelTA learnt from the information department of the National Bank.

List of Strategic Belarusian Enterprises Expanded

The list of strategically important Belarusian enterprises has been expanded with 93 economic entities, representatives of the Belarusian Finance Ministry told BelTA.

Official Minsk Invited to Forum "Eastern Partnership"

Poland, currently presiding the European Union, invited representatives of the official Minsk to the first business forum "Eastern Partnership" to be held in Sopot on September 30 in parallel with the official summit. Representatives of the Belarusian organizations and companies from different sectors of the economy, as well as Deputy Minister of Economy Anton Kudasov, are among the guests.

Bobruisk Plant of Tractor Parts and Units to buy MTZ’s share in Slovak company

Minsk Tractor Works (MTZ trademark) will sell its share in the authorized capital of Belarus traktor Slovakia s.r.o. (Slovakia) to Bobruisk Plant of Tractor Parts and Units. This decision was made by Resolution No. 1171 of the Council of Ministers of Belarus of 1 September 2011, BelTA learnt from the press service of the Belarusian government.

Belarusian Ruble May Depreciate by 30-50%, Moody's

The experts of Moody's international rating agency believe that in case of introduction of floating exchange rate in Belarus it may depreciate by 30-50% against the dollar, which will increase inflation and affect import-depending industries. At the same time, this measure can help "an isolated post-Soviet state" to get a $3 billion loan.

Belarus EU Press Review: September/2011

Official Documents, Statements and Press-Releases