Belarus will place bonds worth 100 billion Russian rubles ($13.5 million) in Russia. Alyaksandr Lukashenka has signed the decree. It was published on the national legal Internet portal. The document that the money will be placed in 2021-2023 reports Vot Tak.
The funds received from the placement of the securities in Russia will be credited to the Belarusian Ministry of Finance account at Gazprombank. It is reported that the decree was adopted to refinance the country’s foreign public debt.
On April 1, the external public debt amounted to $18.1 billion. However, the Belarusian Ministry of Finance noted that it had decreased by $0.5 billion, while the total state debt had risen by 2.7%. This was due to internal debts.
Despite the sanctions in 2021, the Belarusian authorities managed to borrow $171.5 million from Russia, China, IBRD, and EBRD. In addition, Minsk has paid $568.7 million for old debts since the beginning of the year.
The economic crisis in Belarus
On February 25 this year, the government of Belarus limited the prices of socially important goods and some medicines for manufacturers, suppliers, and retailers.
Economist Yaraslau Ramanchuk told Vot Tak that annual inflation could reach 20%. The expert suggests that by the end of 2021, if the rate is not regulated manually, the average salary in Belarus will decrease in dollar terms and be less than $400.
