MINSK, June 1: Belarus on Wednesday asked the International Monetary Fund (IMF) for up to $8 billion in assistance aimed at easing a crisis that has seen the currency sharply devalued and stores emptied by panicked buyers.

“The Belarus government and the National Bank of the Republic of Belarus on Tuesday sent an application to the International Monetary Fund for the extension of a stabilisation loan,” the Belarus government said in a statement.

Prime Minister Mikhail Myasnikovich said he expected the level of help to be $3.5 to $8 billion over three to five years the minimum figure comparable to the $3.45 billion package approved by the fund in 2009.

Minsk's approach to the IMF underlines the severity of the economic crisis in the republic of 10 million people and represents a major U-turn by the country's leadership.

Authoritarian President Alexander Lukashenko last month demanded to know why he would subject his government to the stiff terms likely to be sought by the IMF and insisted he would never seek Western help.—AFP