Ministry of Finance Puzzled how Russia to Loan Belarus

19.05.2011 14:09
Архив Редакция

Russia will provide $3 billion loan to Belarus from the EurAsES Crisis Fund in exchange for economic reform program, which the parties have already agreed on, said the Finance Minister of Belarus, Andrei Kharkovets, on May 19. However, the head of the Treasury finds it hard to say how exactly Russia will loan Belarus.

Head of the Belarusian Finance Minister said that a final decision over whether there will be an annual allocation of $1 billion in 2011-2013, or a lump sum in 2011, will be «taken politics,» PRIME-TASS.

Currently, $1 billion loan from the EurAsES Crisis Fund is the only chance of Belarus to attract foreign loans until the end of the year, as the Belarusian authorities had to abandon one more way of attracting foreign funds into the country — Eurobonds — due to a sharp rise in such loans value amid Belarus’s sovereign rating decline.

«We do not intend to borrow in foreign financial markets this year,» said Andrey Kharkovets.

Как вам новость?