This paper aims at visualizing adjustment mechanisms of the Belarusian economy to changes in exchange rate level and providing correspondent policy recommendations.

This policy paper contains the analysis of the steps taken to attract foreign investments in Belarus in 2010.

This policy paper contains the analysis of the problems of the foreign account deficit, external debt, money market imbalances, inflationary potential, fragile financial standing of domestic companies aggravated in Belarus by early 2011 and their impact on macroeconomic stability and long-term sustainable growth.

The author examines the role of guarantor as one of the means of securing housing credits as well as the international practice of developing mortgage lending.