MINSK, 6 November (BelTA) – The Belarusian Finance Ministry does not rule out the possibility of floating eurobonds after 2019. Finance Minister Maksim Yermolovich made the statement during the economic forum KEF 2018 on 6 November, BelTA has learned.
“We don't have plans to float eurobonds next year, but then our decisions are prompted by the market. There are plans to do that in consequent years,” said the official.
Maksim Yermolovich pointed out that Belarus now has access to local markets (Russia, China), the American market and the European one, and demand persists there. Besides, there is a potential possibility for a program with the IMF. “We have the broadest choice of instruments in the entire history of sovereign Belarus to ensure the persistent discharge of our obligations,” he noted.
Belarus intends to raise an average of $1.5 billion on foreign markets every year in the medium term. “The state of the market will determine how much money will be raised via eurobonds. It can be zero or it can be $1.5 billion. We don't limit our borrowing options,” he said.
“There is only one factor: the cost of borrowing. If there is a program with the IMF in 2020, then understandably this option may be slightly cheaper than eurobonds taking into account all factors,” concluded Maksim Yermolovich.
