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27 February 2019, 12:53

Belarus seeks loan from Russia to refinance $600m debt

MINSK, 27 February (BelTA) – Belarus has requested a loan from Russia in order to refinance debt to the tune of $600 million. The Russian Federation has not made the decision to grant the loan yet, BelTA learned from Belarusian Finance Minister Maksim Yermolovich.

The official said: “We stay in touch with our colleagues from the Russian Federation as part of the work on the draft credit agreement but the Russian Federation government has not made the decision to grant the loan or not yet. We are talking about refinancing the entire sum of the payments on Russian government loans in 2019. The volume of these payments stands at $600 million.”

According to the Belarusian side, money to allocate the loan is stipulated by the Russian federal budget law for 2019.

“As for our standard mechanisms of interaction as part of the work on the credit agreement, everything is ready, the draft resolution is prepared. It is now up to the Russian Federation government to make the final decision,” concluded Maksim Yermolovich.

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