Ministry Of Finance: $600 Million Russian Loan Is Delayed

• 12.06.2019, 14:48

The loan was supposed to be used to repay external loans.

The Ministry of Finance of Belarus says that there have been problems with the Russian state loan of $600 million.

"It turns out that there were problems with the Russian loan of $600 million and the decision on the $200 million tranche was delayed for some reasons, although Belarus has fulfilled all the conditions," – Finance Minister of Belarus Maksim Yarmalovich said, Interfax reports.

Yarmalovich reminds that this year it is planned to repay external liabilities by attracting a loan from the Russian Government ($600 million), the tranche of the Eurasian Fund for Stabilization and Development ($200 million) and the budget surplus ($700 million), as well as borrowings in the domestic market.

"In principle, this would be enough to fully cover the liabilities. Plus $150 million in equivalent is an access to the Russian market of borrowings", – he adds.