TohidA/MONA · Datasets at Hugging Face

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.2

1.2. Revenue administration, including customs

Government to adopt new legislative and regulatory provisions to strengthen and modernize procedures for granting and managing all duty and tax exemptions consistent with recommendations outlined in recent IMF technical assistance

1

12/31/2022

M

N/A

1

2022-12-31

R0

R1

SB_20.20_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.2

1.2. Revenue administration, including customs

Undertake a data matching project with participation from the BRA and BCED to improve compliance and risk management

2

03/31/2023

M

N/A

1

2

2023-03-31

R0

R1

SB_20.20_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.2

1.2. Revenue administration, including customs

Government to implement a formal and time-bound transition process requiring all pre-existing exemptions or waivers to requalify under the modernized duty and tax exemptions approvals framework.

3

03/31/2024

SB

N/A

1

3

2024-03-31

R0

N/A

SB_20.20_3

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

The NIS to submit all outstanding financial statements for audit by the Auditor General.

1

03/31/2024

SB

N/A

1

2024-03-31

R0

N/A

SB_20.70_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.9

1.9. Inter-governmental relations

Government to develop a NIF recapitalization and reform plan that restores and safeguards sustainability of the Fund.

1

12/31/2022

M

N/A

1

2022-12-31

R0

R1

SB_20.90_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.9

1.9. Inter-governmental relations

Government to set up a fiscal risk unit.

2

06/30/2023

SB

N/A

1

2

2023-06-30

R0

N/A

SB_20.90_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

20.9

1.9. Inter-governmental relations

Government to establish a Cash Management Unit

3

03/31/2024

SB

N/A

1

3

2024-03-31

R0

N/A

SB_20.90_3

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

21.1

2.1. Central bank operations and reforms

The CBB to review its balance sheet capacity and monetary toolkit, with the support of IMF technical assistance.

1

11/30/2023

SB

N/A

1

2023-11-30

R1

N/A

SB_21.10_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

21.1

2.1. Central bank operations and reforms

The CBB to review its balance sheet capacity and monetary toolkit, with the support of IMF technical assistance.

1

12/31/2023

MOD-DATE

N/A

1

2023-12-31

R0

N/A

SB_21.10_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

23.1

4.1. Pension reforms

Government to table a revised public pension law to enhance the sustainability of the public sector pension scheme, as discussed in MEFP.

1

03/31/2023

MD

N/A

1

2023-03-31

R0

R1

SB_23.10_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

23.1

4.1. Pension reforms

Parliament to approve the public pension law

2

03/31/2024

SB

The government tabled public pension reform legislation in May 2023 and will seek the Parliamentary approval.

1

2

2024-03-31

R1

N/A

SB_23.10_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Government to amalgamate the operations of the Rural Development Corp. (RDC), and Urban Development Corp (UDC) and reform the National Housing Corporation (NHC) to reduce overlap and achieve greater financial and operating efficiencies.

1

06/30/2023

MOD-DATE

N/A

1

2023-06-30

R0

N/A

SB_24.00_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Government to reform BAMC and shift BAMC’s operations away from subsidizing the traditional sugar industry.

2

06/30/2023

MOD-DATE

N/A

1

2

2023-06-30

R0

N/A

SB_24.00_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Government to reform BAMC and shift BAMC’s operations away from subsidizing the traditional sugar industry.

2

12/31/2023

SB

N/A

1

2

2023-12-31

R1

N/A

SB_24.00_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Ministry of Finance to prepare a comprehensive stocktaking of the financial performance of the SOE sector.

3

06/30/2023

SB

N/A

1

3

2023-06-30

R0

N/A

SB_24.00_3

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Cabinet to approve plans for (i) the amalgamation of the operations of the Rural Development Corp. (RDC), and Urban Development Corp (UDC) and (ii) the reform the National Housing Corporation (NHC) to reduce overlap and achieve greater financial and operating efficiencies.

4

12/31/2023

SB

N/A

1

4

2023-12-31

R1

N/A

SB_24.00_4

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

27

8. International trade policy, excluding customs reforms

Government to undertake a comprehensive stocktaking of Barbados’ business environment and the execution of policy reforms overseen by the Doing Business Sub-Committee of Cabinet and Private Sector Committee under the BERT framework.

1

03/31/2023

M

N/A

1

2023-03-31

R0

R1

SB_27.00_1

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

27

8. International trade policy, excluding customs reforms

Government to establish a GovTech agency resourced, mandated, and empowered to advance the digitization initiative to improve the delivery of public services.

2

06/30/2023

MOD-DATE

N/A

1

2

2023-06-30

R0

N/A

SB_27.00_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

27

8. International trade policy, excluding customs reforms

Government to establish a GovTech agency resourced, mandated, and empowered to advance the digitization initiative to improve the delivery of public services.

2

09/30/2023

SB

N/A

1

2

2023-09-30

R1

N/A

SB_27.00_2

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

27

8. International trade policy, excluding customs reforms

Government to implement its digitalization strategy by digitizing records, establish a central online platform for government services, and develop a digital platform to improve the monitoring and execution of the Public Sector Investment Programme.

3

06/30/2023

MOD-DATE

N/A

1

3

2023-06-30

R0

N/A

SB_27.00_3

N/A

845

BARBADOS

316

EFF

2022-12-07

2,022

2025-12-06

2,025

N/A

2023-06-22

P1

R1

L

SB

27

8. International trade policy, excluding customs reforms

Government to establish a central online platform for government services and develop a digital platform to improve the monitoring and execution of the Public Sector Investment Programme.

4

03/31/2024

SB

N/A

1

4

2024-03-31

R1

N/A

SB_27.00_4

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Eliminate additional deposit transfers from the central and local governments to commercial banks.

1

Program Prior Action

M

Observed on Jan. 6, 2009.

0

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Legal approval of a central government budget with a zero deficit by a Presidential decree.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

PA

22

3. Civil service and public employment reforms, and wages

Limit the wage increase for budgetary workers in November 2008 to 5.3 percent.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Abolish the interest rate ceiling for rubel lending to the corporate sector by the President adopting an appropriate Resolution.

2

Program Prior Action

M

Observed on Jan. 3, 2009.

0

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

PA

26

7. Exchange systems and restrictions (current and capital)

Re-peg the exchange rate to a basket of currencies consisting of the U.S. dollar, the Russian ruble and the Euro, and apply a band of + or - 5 percent around the central parity.

1

Program Prior Action

M

Observed on Jan. 2, 2009.

0

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

In line with FSAP recommendations, bring loan classification practices in line with best international practices.

1

09/30/2009

SB

N/A

0

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

SB

25.2

6.2. Restructuring and privatization of financial institutions

Engage a qualified, experienced, and reputable consultant, on a competitive basis, to assist in preparing state-owned banks for partial or full privatization.

1

08/31/2009

SB

N/A

0

1

2009-08-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

Continuous

SB

N/A

0

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-01-12

P1

R0

E

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Eliminate the regulatory act imposing a general ceiling on monthly price increases of 1/2 percent.

1

03/31/2009

SB

N/A

0

1

2009-03-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Eliminate additional deposit transfers from the central and local governments to commercial banks.

1

Program Prior Action

M

Observed on Jan. 6, 2009.

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Legal approval of a central government budget with a zero deficit by a Presidential decree.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

21.1

2.1. Central bank operations and reforms

Raise the NBRB overnight credit rate by 200 basis points to 22 percent.

1

First Review Prior action

M

Justification: To tighten monetary policy by raising the cost of the NBRB lending facilities which also influences the interbank rate.

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

21.1

2.1. Central bank operations and reforms

Recommend to commercial banks that they maintain an average interest rate on new term deposits of households of at least 21.6 percent, 2 percentage points higher than the average level for March 2009.

2

First Review Prior action

M

Justification: To facilitate a switch from foreign exchange to rubel deposits, as well as support a tighter monetary policy.

1

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

22

3. Civil service and public employment reforms, and wages

Limit the wage increase for budgetary workers in November 2008 to 5.3 percent.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Abolish the interest rate ceiling for rubel lending to the corporate sector by the President adopting an appropriate Resolution.

2

Program Prior Action

M

Observed on Jan. 3, 2009.

1

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Re-peg the exchange rate to a basket of currencies consisting of the U.S. dollar, the Russian ruble and the Euro, and apply a band of + or - 5 percent around the central parity.

1

Program Prior Action

M

Observed on Jan. 2, 2009.

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Prepare draft amendments and supplements to the Statute of the NBRB with further amendments being introduced into the Banking Code to ensure operational and financial independence of the NBRB.

1

12/31/2009

SB

Justification: A critical foundation for ensuring the effectiveness of the NBRB's internal and external audit mechanisms and the control systems, based on the Safeguards Assessment.

1

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Submit to the Head of State a draft Decree on establishing a Privatization Agency.

1

09/30/2009

SB

Justification: To add impetus to the authorities' privatization program by raising the status and clarifying the powers and mandate of the unit in charge of privatization.

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

In line with FSAP recommendations, bring loan classification practices in line with best international practices.

1

09/30/2009

SB

P1R1: "...loan classification and provisioning requirements in line with best international practices."

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Engage a qualified, experienced, and reputable consultant, on a competitive basis, to assist in preparing state-owned banks for partial or full privatization.

1

08/31/2009

SB

N/A

1

2009-08-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

Continuous

SB

N/A

1

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-06-29

P1

R1

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Eliminate the regulatory act imposing a general ceiling on monthly price increases of 1/2 percent.

1

03/31/2009

M

N/A

1

2009-03-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Eliminate additional deposit transfers from the central and local governments to commercial banks.

1

Program Prior Action

M

Observed on Jan. 6, 2009.

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Legal approval of a central government budget with a zero deficit by a Presidential decree.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

21.1

2.1. Central bank operations and reforms

Raise the NBRB overnight credit rate by 200 basis points to 22 percent.

1

First Review Prior action

M

Justification: To tighten monetary policy by raising the cost of the NBRB lending facilities which also influences the interbank rate.

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

21.1

2.1. Central bank operations and reforms

Recommend to commercial banks that they maintain an average interest rate on new term deposits of households of at least 21.6 percent, 2 percentage points higher than the average level for March 2009.

2

First Review Prior action

M

Justification: To facilitate a switch from foreign exchange to rubel deposits, as well as support a tighter monetary policy.

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

22

3. Civil service and public employment reforms, and wages

Limit the wage increase for budgetary workers in November 2008 to 5.3 percent.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

25

6. Financial sector

Decision of the Presidium of the Council of Ministers to suspend the adoption of new government lending programs through end-2009.

1

Second Review Prior action

M

N/A

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Abolish the interest rate ceiling for rubel lending to the corporate sector by the President adopting an appropriate Resolution.

2

Program Prior Action

M

Observed on Jan. 3, 2009.

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Re-peg the exchange rate to a basket of currencies consisting of the U.S. dollar, the Russian ruble and the Euro, and apply a band of + or - 5 percent around the central parity.

1

Program Prior Action

M

Observed on Jan. 2, 2009.

2

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

21.1

2.1. Central bank operations and reforms

Prepare draft amendments and supplements to the Statute of the NBRB with further amendments being introduced into the Banking Code to ensure operational and financial independence of the NBRB.

1

12/31/2009

SB

Justification: A critical foundation for ensuring the effectiveness of the NBRB's internal and external audit mechanisms and the control systems, based on the Safeguards Assessment.

2

1

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Submit to the Head of State a draft Decree on establishing a Privatization Agency.

1

09/30/2009

SB

Justification: To add impetus to the authorities' privatization program by raising the status and clarifying the powers and mandate of the unit in charge of privatization. The draft decree on establishing a Privatization Agency was submitted to the Head of State on September 30 (end-September structural benchmark). The draft Privatization Law incorporating comments from the World Bank staff was sent to the Parliament on the same day.

2

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

In line with FSAP recommendations, bring loan classification practices in line with best international practices.

1

09/30/2009

SB

P1R1: "...loan classification and provisioning requirements in line with best international practices." The Board of the NBRB adopted a resolution on September 23 to bring loan classification and provisioning requirements in line with the FSAP recommendations.

2

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Engage a qualified, experienced, and reputable consultant, on a competitive basis, to assist in preparing state-owned banks for partial or full privatization.

1

08/31/2009

PM

N/A

2

1

2009-08-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

Continuous

SB

N/A

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Eliminate the regulatory act imposing a general ceiling on monthly price increases of 1/2 percent.

1

03/31/2009

M

N/A

2

1

2009-03-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-10-21

P1

R2

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Issue a Council of Ministers recommendation to the line ministries and, other government agencies in charge of economic activity, including local governments, not to set any quantitative targets for 2010, such as output and employment targets, for the companies that do not benefit from government's financial support and in which the government has a minority share.

2

12/31/2009

SB

N/A

2

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Eliminate additional deposit transfers from the central and local governments to commercial banks.

1

Program Prior Action

M

Observed on Jan. 6, 2009.

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Legal approval of a central government budget with a zero deficit by a Presidential decree.

1

Program Prior Action

M

N/A

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

The budget, consistent with the general government deficit of 2.7 trillion rubels (1.7 percent of GDP), to be submitted to Parliament by the President by December 11, 2009.

2

Third Review Prior action

M

Prior action for R3.

3

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

21.1

2.1. Central bank operations and reforms

Raise the NBRB overnight credit rate by 200 basis points to 22 percent.

1

First Review Prior action

M

Justification: To tighten monetary policy by raising the cost of the NBRB lending facilities which also influences the interbank rate.

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

21.1

2.1. Central bank operations and reforms

Recommend to commercial banks that they maintain an average interest rate on new term deposits of households of at least 21.6 percent, 2 percentage points higher than the average level for March 2009.

2

First Review Prior action

M

Justification: To facilitate a switch from foreign exchange to rubel deposits, as well as support a tighter monetary policy.

3

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

22

3. Civil service and public employment reforms, and wages

Limit the wage increase for budgetary workers in November 2008 to 5.3 percent.

1

Program Prior Action

M

N/A

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

25

6. Financial sector

Decision of the Presidium of the Council of Ministers to suspend the adoption of new government lending programs through end-2009.

1

Second Review Prior action

M

N/A

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Abolish the interest rate ceiling for rubel lending to the corporate sector by the President adopting an appropriate Resolution.

2

Program Prior Action

M

Observed on Jan. 3, 2009.

3

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Re-peg the exchange rate to a basket of currencies consisting of the U.S. dollar, the Russian ruble and the Euro, and apply a band of + or - 5 percent around the central parity.

1

Program Prior Action

M

Observed on Jan. 2, 2009.

3

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Bring the basket value to the level of 1,038 rubels.

2

Third Review Prior action

M

Prior action for R3.

3

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

PA

26

7. Exchange systems and restrictions (current and capital)

Publish in the Monetary Policy Guidelines for 2010 the decision that exchange rate parity will be recentered at its December 31, 2009 level.

3

Third Review Prior action

M

Prior action for R3.

3

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

21.1

2.1. Central bank operations and reforms

Prepare draft amendments and supplements to the Statute of the NBRB with further amendments being introduced into the Banking Code to ensure operational and financial independence of the NBRB.

1

12/31/2009

SB

Introduced at R1. Justification: A critical foundation for ensuring the effectiveness of the NBRB's internal and external audit mechanisms and the control systems, based on the Safeguards Assessment.

3

1

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Submit to the Head of State a draft Decree on establishing a Privatization Agency.

1

09/30/2009

M

Introduced at R1. Justification: To add impetus to the authorities' privatization program by raising the status and clarifying the powers and mandate of the unit in charge of privatization.

3

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Compile a list of enterprises from the list of companies included in the privatization plan for 2008-10 and task the privatization agency with preparing these enterprises for privatization through an open, international, transparent and competitive bidding process.

2

02/28/2010

SB

Introduced at R3.

3

2

2010-02-28

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

In line with FSAP recommendations, bring loan classification practices in line with best international practices.

1

09/30/2009

M

Introduced at R0. P1R1: "...loan classification and provisioning requirements in line with best international practices."

3

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Engage a qualified, experienced, and reputable consultant, on a competitive basis, to assist in preparing state-owned banks for partial or full privatization.

1

08/31/2009

PM

Introduced at R0.

3

1

2009-08-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

06/30/2009

M

Met for R2.

3

2

2009-06-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

09/30/2009

M

Met for R3.

3

2

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

Continuous

SB

Introduced at R0.

3

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Eliminate the regulatory act imposing a general ceiling on monthly price increases of 1/2 percent.

1

03/31/2009

M

Introduced at R0.

3

1

2009-03-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-04-11

2,010

N/A

2009-12-18

P1

R3

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Issue a Council of Ministers recommendation to the line ministries and, other government agencies in charge of economic activity, including local governments, not to set any quantitative targets for 2010, such as output and employment targets, for the companies that do not benefit from government's financial support and in which the government has a minority share.

2

12/31/2009

SB

Introduced at R3.

3

2

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

Eliminate additional deposit transfers from the central and local governments to commercial banks.

1

Program Prior Action

M

Observed on Jan. 6, 2009.

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Legal approval of a central government budget with a zero deficit by a Presidential decree.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

The budget, consistent with the general government deficit of 2.7 trillion rubels (1.7 percent of GDP), to be submitted to Parliament by the President by December 11, 2009.

2

Third Review Prior action

M

Prior action for R3.

4

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

21.1

2.1. Central bank operations and reforms

Raise the NBRB overnight credit rate by 200 basis points to 22 percent.

1

First Review Prior action

M

Justification: To tighten monetary policy by raising the cost of the NBRB lending facilities which also influences the interbank rate.

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

21.1

2.1. Central bank operations and reforms

Recommend to commercial banks that they maintain an average interest rate on new term deposits of households of at least 21.6 percent, 2 percentage points higher than the average level for March 2009.

2

First Review Prior action

M

Justification: To facilitate a switch from foreign exchange to rubel deposits, as well as support a tighter monetary policy.

4

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

22

3. Civil service and public employment reforms, and wages

Limit the wage increase for budgetary workers in November 2008 to 5.3 percent.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

25

6. Financial sector

Decision of the Presidium of the Council of Ministers to suspend the adoption of new government lending programs through end-2009.

1

Second Review Prior action

M

N/A

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

25

6. Financial sector

Issue a Council of Ministers resolution asserting that the agreed limits on overall credit under government programs are binding.

2

Fourth Review Prior action

M

N/A

4

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Abolish the interest rate ceiling for rubel lending to the corporate sector by the President adopting an appropriate Resolution.

2

Program Prior Action

M

Observed on Jan. 3, 2009.

4

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

26

7. Exchange systems and restrictions (current and capital)

Re-peg the exchange rate to a basket of currencies consisting of the U.S. dollar, the Russian ruble and the Euro, and apply a band of + or - 5 percent around the central parity.

1

Program Prior Action

M

Observed on Jan. 2, 2009.

4

1

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

26

7. Exchange systems and restrictions (current and capital)

Bring the basket value to the level of 1,038 rubels.

2

Third Review Prior action

M

Prior action for R3.

4

2

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

26

7. Exchange systems and restrictions (current and capital)

Publish in the Monetary Policy Guidelines for 2010 the decision that exchange rate parity will be recentered at its December 31, 2009 level.

3

Third Review Prior action

M

Prior action for R3.

4

3

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

PA

26

7. Exchange systems and restrictions (current and capital)

Allow the rubel to depreciate by 3 percent against the central parity bringing the currency basket to 1,067 rubels.

4

Fourth Review Prior action

M

N/A

4

2023-09-23

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

21.1

2.1. Central bank operations and reforms

Prepare draft amendments and supplements to the Statute of the NBRB with further amendments being introduced into the Banking Code to ensure operational and financial independence of the NBRB.

1

12/31/2009

M

Introduced at R1. Justification: A critical foundation for ensuring the effectiveness of the NBRB's internal and external audit mechanisms and the control systems, based on the Safeguards Assessment.

4

1

2009-12-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Submit to the Head of State a draft Decree on establishing a Privatization Agency.

1

09/30/2009

M

Introduced at R1. Justification: To add impetus to the authorities' privatization program by raising the status and clarifying the powers and mandate of the unit in charge of privatization.

4

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

Compile a list of enterprises from the list of companies included in the privatization plan for 2008-10 and task the privatization agency with preparing these enterprises for privatization through an open, international, transparent and competitive bidding process.

2

02/28/2010

M

Introduced at R3.

4

2

2010-02-28

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

In line with FSAP recommendations, bring loan classification practices in line with best international practices.

1

09/30/2009

M

Introduced at R0. P1R1: "...loan classification and provisioning requirements in line with best international practices."

4

1

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Engage a qualified, experienced, and reputable consultant, on a competitive basis, to assist in preparing state-owned banks for partial or full privatization.

1

08/31/2009

PM

Introduced at R0.

4

1

2009-08-31

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

06/30/2009

M

Met for R2.

4

2

2009-06-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

09/30/2009

M

Met for R3.

4

2

2009-09-30

N/A

608

BELARUS

913

SBA

2009-01-12

2,009

2010-03-30

2,010

N/A

2010-03-26

P1

R4

L

SB

25.2

6.2. Restructuring and privatization of financial institutions

Refrain from approving any new directed lending programs financed with budget deposits.

2

12/31/2009

M

Met for R4.

4

2

2009-12-31

N/A