Changes

Belarus continues to be heavily dependent on Russia, with the potential for greater economic dependency in a long-proposed EU-style union between the two states. Prospects for an eventual union state remain weak, however, largely due to the apparent lack of interest on the part of the leadership of both countries. However, Russia, Belarus, and Kazakhstan have announced plans to move ahead with the formation of a customs union that they expect to be completed by 2010.

Belarus continues to be heavily dependent on Russia, with the potential for greater economic dependency in a long-proposed EU-style union between the two states. Prospects for an eventual union state remain weak, however, largely due to the apparent lack of interest on the part of the leadership of both countries. However, Russia, Belarus, and Kazakhstan have announced plans to move ahead with the formation of a customs union that they expect to be completed by 2010.

In the 2000s, Belarus and Russia had proposed to have a common currency, and the value of the Belarusian ruble was tied to the Russian ruble as an interim step. However, the National Bank of the Republic of Belarus announced that, starting in 2008, the Belarusian ruble would be tied to the [[United States dollar]] instead of the Russian ruble.<ref>{{cite news | title= Belarus to link currency to dollar | url= http://www.boston.com/news/world/europe/articles/2007/08/15/belarus_to_link_currency_to_dollar/ | publisher= [[Associated Press]] | date=2007-08-15 | accessdate=2007-10-01 |archiveurl = //web.archive.org/web/20080422011401/http://www.boston.com/news/world/europe/articles/2007/08/15/belarus_to_link_currency_to_dollar/ |archivedate = April 22, 2008}} {{Dead link|date=November 2013}}</ref>

In the 2000s, Belarus and Russia had proposed to have a common currency, and the value of the Belarusian ruble was tied to the Russian ruble as an interim step. However, the National Bank of the Republic of Belarus announced that, starting in 2008, the Belarusian ruble would be tied to the [[United States dollar]] instead of the Russian ruble. By 2011, it was tied to a market basket of currencies that include the dollar.

The World Bank announced a new 4-year country assistance strategy for Belarus in December 2007, which focuses on global environment and energy challenges, enhances the competitiveness of the Belarusian economy to assure rising incomes, and protects the welfare of the most vulnerable. As part of the strategy, the World Bank is financing improvements to schools, hospitals, and homes for orphans, the elderly, and the disabled throughout Belarus, with particular emphasis on improving the energy efficiency of those facilities. In 2004, Belarus rejected a World Bank loan to help fight AIDS and tuberculosis. IMF cooperation is currently limited to policy and technical consultations.

The World Bank announced a new 4-year country assistance strategy for Belarus in December 2007, which focuses on global environment and energy challenges, enhances the competitiveness of the Belarusian economy to assure rising incomes, and protects the welfare of the most vulnerable. As part of the strategy, the World Bank is financing improvements to schools, hospitals, and homes for orphans, the elderly, and the disabled throughout Belarus, with particular emphasis on improving the energy efficiency of those facilities. In 2004, Belarus rejected a World Bank loan to help fight AIDS and tuberculosis. IMF cooperation is currently limited to policy and technical consultations.