Study of low-scale MHD waves in the inner Earth magnetosphere was performed using the standard set of ballooning mode equations obtained naturally for finite pressure plasmas in general magnetic field geometries. Flute- and ballooning-type low-scale disturbances in the near equatorial plasma-sphere where they may have maximum growth rates were studied. The ballooning mode stability condition was obtained, the wave excitation spectrum was investigated. Corresponding dispersion equations for low-frequency wave modes were formulated and analysed. Dependencies of eigenfre-quencies and growth rates on plasma pressure and Mcllwain parameter were discussed.