International organization participation: CCC, CE (guest), CIS, EBRD, ECE, IAEA, IBRD, ICAO, IFC, IFRCS, ILO, IMF, Intelsat (nonsignatory user), Interpol, IOC, IOM (observer), ISO, ITU, NACC, OSCE, PCA, PFP, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTrO (applicant)
Diplomatic representation in US:
chief of mission: Ambassador Sergey Nikolayevich MARTYNOV
chancery: 1619 New Hampshire Avenue NW, Washington, DC 20009
telephone: [1] (202) 986-1604
FAX: [1] (202) 986-1805
consulate(s) general: New York
US diplomatic representation:
chief of mission: Ambassador Kenneth Spencer YALOWITZ
embassy: Starovilenskaya #46-220002, Minsk
mailing address: use embassy street address
telephone: [375] (172) 31-50-00
FAX: [375] (172) 34-78-53
Flag: red horizontal band (top) and green horizontal band one-half the width of the red band; a white vertical stripe of white on the hoist side bears in red the Belarusian national ornament
Economy ———-
Economic overview: At the time of independence in late 1991, Belarus was one of the most developed of the former Soviet states, inheriting a modern - by Soviet standards - machine building sector and robust agricultural sector. However, the breakup of the Soviet Union and its traditional trade ties, as well as the government's failure to embrace market reforms, has resulted in a sharp economic decline. Privatization is virtually nonexistent and the system of state orders and distribution persists. Although President LUKASHENKO pronounces his 1995 macro stabilization policies a success - annual inflation dropped from 2,220% in 1994 to 244% in 1995 - the IMF has criticized his insistence on maintaining the steady exchange rate for Belarusian rubel, which has traded at 11,500 to the dollar since late 1994. The IMF suspended Minsk's $300 million standby program in November 1995 until the government would agree to a devaluation of the rubel. The overvalued rubel has especially hurt Belarusian exporters, most of which now operate at a loss. In addition, the January 1995 Customs Union agreement with Russia - which required Minsk to adjust its foreign trade practices to mirror Moscow's - has resulted in higher import tariffs for Belarusian consumers; tariffs have risen from 5%-20% to 20%-40%.
GDP: purchasing power parity - $49.2 billion (1995 estimate as extrapolated from World Bank estimate for 1994)
GDP real growth rate: -10% (1995 est.)
GDP per capita: $4,700 (1995 est.)
GDP composition by sector: agriculture: 21% industry: 49% services: 30% (1991 est.)