Awards for Excellence 2009: Belarus
Best Bank: Priorbank
Priorbank has had a good 12 months despite the economic problems in Belarus. In January the government negotiated a 15-month stand-by arrangement with the IMF for $2.5 billion as Belarus got sucked into the global financial crisis. In June the IMF announced that it would increase its facility by another $1 billion after Russia withheld a $500 million loan instalment, the last tranche of a $2 billion loan facility.