Kazakhstan's 'BBB' IDRs reflect strong fiscal and external balance sheets that have been resilient to the coronavirus and oil price shocks, and financing flexibility underpinned by accumulated oil revenue savings,

The rating actions followed the revision of Georgia's outlook to Stable from Negative earlier this month.

The country reduced oil and oil products exports by 12.5 percent year-on-year to 17.107 million tonnes and increased exports of natural gas by 56.4 percent to 12.061 billion cubic metres.

Though the package may be a boost to Lukashenko, isolated from the West, the IMF package is in fact automatic.

The Energy Ministry said that oil production would still be below 718,000 bpd produced in October 2018, when members of OPEC+ agreed to reduce oil production gradually.