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Sunday, April 30, 2017

Belarus borrows $1.55 billion from Russia

Russia transferred a loan to the account of the Belarus Financial Ministry on Monday.

An agreement was reached between the two countries for the Belarusian government to receive the equivalent of $1.55 billion in Rubles over 15 years with a grace period of five years. The agreement was signed on Sept. 24

The loan will help Belarus pay off debts and replenish gold and foreign currency stock — assuming that the country pays off the interest and principal balances of another state loan and loans received from the Anticrisis Fund of the Eurasian Economic Community.

Combined with a previous $450 million loan, Belarus has received $2 billion in credit support from the Russian Federation this year.

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