Barys Zhaliba: Belarus has no $1 billion to settle debts

• 24.07.2015, 8:52

Russia granted a credit of $760 millions, but it will be not enough.

Barys Zhaliba, Professor and Doctor of Economics, informed Salidarnasts. Expert thinks that in the near future some events can happen that could affect the Belarusian ruble.

- In August we have to pay $1 billion to settle the first wave of Eurobonds. There are some questions: where should we take this money from? Russia granted a credit of $760 millions (with its own currency), but it will be not enough, Barys Zhaliba noted.

FX reserves are not so encouraging, the economist said:

- Now it equals to $4.6 billion, according to different estimates the currency component reduced to $2 billions or even more. All the rest is gold and other illiquid means for Eurobonds settlement, he said.

According to Barys Zhaliba, a sharp decrease of RX reserves will affect statistics. It will surely affect depositors' mood, as a result it may affect the ruble rate. Only Russia's assistance may help to avoid such a scenario.