Belarus has asked the International Monetary Fund for an emergency loan of up to $US8 billion.
The government announced on 31 May that it was raising its main interest rate from 14% to 16% and that prices on a number of staple foods were frozen until 1 July.
Belarus cut the value of the rouble against the US dollar by 36% the previous week.
The BBC reports the country faces its most severe financial crisis since the collapse of the Soviet Union.
Prime Minister Mikhail Myasnikovich said the IMF programme could last for three to five years.
Belarus has also asked Russia for a direct loan. A decision is expected later this week.
