The International Monetary Fund (IMF) mission has begun its work in Belarus, the IMF office in Belarus told local media on Monday.

The local IMF office said that IMF experts will discuss with the representatives of the state authorities the economic situation in Belarus and will conduct preparatory work ahead of the annual IMF mission on Article IV, which is expected in October.

Belarus is discussing with the IMF the possibility of implementing a three-year cooperation program that will be supported by a loan of 3 billion U.S. dollars.

The IMF calls on the Belarusian authorities to implement a comprehensive reform strategy for state-owned enterprises (SOEs) in order to increase their productivity and efficiency, as well as to reduce financial risk.

The IMF also recommends Belarus to continue its work on strengthening the budget framework and pursue prudent monetary and credit policies to maintain macroeconomic and financial stability.

The IMF mission will be working in Belarus from June 5 to 12.