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29 June 2022, 09:01

Belarus to honor debt obligations under eurobonds in national currency

MINSK, 29 June (BelTA) - Belarus will service its debt obligations on eurobonds in the national currency. The corresponding decree has been adopted by the Council of Ministers and the National Bank of the Republic of Belarus, BelTA learned from the Belarusian government's press service.

“Debt obligations under sovereign securities floated on international financial markets will be honored in Belarusian rubles at the rate of the country's National Bank as of the date of payment,” the press service said.

According to the Belarusian government, the decision is a forced measure caused by the inability of the payment agent and other participants of the international clearing and settlement system to warrant complete and timely transfer of funds to all holders of eurobonds.

This is evidenced by facts of the failure of individual holders to receive the coupon revenue on eurobonds remitted by the Finance Ministry in February 2022, the government said.

According to the government, the adopted document also provides for other forms of settlements. Explanations will be provided by the Finance Ministry.

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