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Belarus Secures $3 Billion Loan

People exchange money inside an exchange office in Minsk
Belarus has secured a $3 billion loan from a Russian-led bailout fund.

Belarusian Finance Minister Andrei Kharkovets said "We are happy with the conditions of the loan," adding that he hopes it will facilitate a further loan from the International Monetary Fund (IMF).

The $3 billion loan was secured at a meeting of officials from the Eurasian Economic Community (EurAsEC) in the Ukrainian capital Kyiv.

Minsk is hoping the loans will help Belarus avoid economic chaos, stabilize its currency, and end soaring inflation.

compiled from agency reports