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according to the National Bank of Belarus (NBB). The nation's trade in goods surged by 21.5% year-on-year to $33.6bn in January-June: exports of goods went up by 20.1% y/y to $16.1bn; imports up 22.8% yy to $17.5bn. Current deterioration in foreign trade adds to the country's financial woes. Specifically, Russia reportedly intends to suspend the allocation of new tranches from $2bn support package agreed between Minsk and the Russia-led Eurasian Fund for Stabilisation and Development (EFSD) in 2016, as well as to suspend the negotiations on a new $1bn intergovernmental loan. Earlier, Belarus expected to obtain a new tranche from the EFSD by late May following a $200mn tranche allocated by the institution in October. According to official data, the nation's international reserves increased by $200mn, or 1.6% month-on-month to $7bn in JUly. However, their level remains below necessary minimum of an equivalent of three months of imports cover, which allows to protect the country's finances from possible external shocks.
17 BELARUS Country Report September 2018 www.intellinews.com