June 4, 2011 / 4:13 PM / 7 years ago

Russia-led fund grants Belarus $3 billion loan

KIEV (Reuters) - Cash-strapped Belarus will receive a three-year $3 billion loan from a Russia-led regional bailout fund as it seeks to stabilize its economy, Prime Minister Vladimir Putin’s spokesman Dmitry Peskov said on Saturday.

The former Soviet republic on Friday unveiled a series of measures to end the crisis, including a vow to cut its budget deficit in half, after its currency lost 36 percent of its value in May and inflation reached 20.2 percent.

Reporting by Lidia Kelly; Editing by Alfred Kueppers

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