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Monday, June 26, 2017

Belarus to begin repayment of foreign currency denominated government bonds

The Ministry of Finance of Belarus has announced that it will begin the repayment of government bonds denominated in foreign currency for individuals' first - series AA 1 - and second - series AB 2 - issues on Dec. 20.

The redemption of the government bond issues and payment of interest income will be carried out at all branches, banking centers and departments of Belarusbank throughout the country.

Most of the Belarusian economy remains state-controlled, with more than half of Belarusians employed by state-controlled companies. Approximately 47 percent are employed by private companies, of which approximately five percent are partially foreign-owned, and just under two percent are employed by foreign companies.

The country relies on Russia for various imports, including petroleum, while exports consist largely of agricultural products, including potatoes and meat.