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13 February 2020, 19:19

Belarusian Finance Ministry's potential for attracting credit resources ‘much higher'

MINSK, 13 February (BelTA) – The potential of the Finance Ministry for attracting credit resources is much higher and these sources are as good. Belarusian Deputy Finance Minister Andrei Belkovets made the relevant statement during a roundtable session hosted by Cbonds Company on 13 February to discuss the debt market of Belarus, BelTA has learned.

Andrei Belkovets reminded that in 2019 Belarus had plans to take out a Russian loan and get the seventh tranche of the loan from the Eurasian Fund for Stabilization and Development. “We got neither, however, nothing negative happened. We found a replacement and alternative sources are just as good,” the official said. In particular, a Chinese untied loan was mentioned.

On the whole, Andrei Belkovets said, at present the Finance Ministry is much stronger as far as the tools to raise credit resources are concerned. “We have more versatile potential regarding where we can borrow money in order to avoid dependence on one creditor, which may dictate terms to us otherwise,” the official said. He made it clear it is a great accomplishment of the ministry.

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