Minsk seeks help from China as Russia withholds loans until further integration

Russia links the allocation of the state loan to Belarus in the amount of $ 630 million with the integration processes, Interfax quotes Maksim Yarmalovich, Minister of Finance of Belarus.

“Finance Minister Siluanov (head of the Ministry of Finance of the Russian Federation Anton Siluanov) has repeatedly said that when we come up with a general picture of the mechanisms and instruments of integration, then we will address the issues of loan cooperation in a broader format. Not only within the framework of this loan, but throughout the payment schedule in favor of the Russian government,” said Yarmalovich.

The head of the Finance Ministry reminded that in April Belarus signed a framework agreement with the State Development Bank of China and revised its plans to enter the domestic market of bonds denominated in foreign currency.

“As a result of the negotiations, we are going to sign a loan agreement and plan to attract 3.5 billion yuans by the end of this year, which is more than $500 million in equivalent,” said the Minister.

At the same time, the Kremlin has virtually suspended the allocation of credit funds to Minsk. Thus, even the seventh tranche of the loan from the Eurasian Fund for Stabilization and Development in the amount of $ 200 million was not received by Belarus. Initially, all tranches of the loan should have been received by the end of 2018, but Belarus failed to meet the conditions for their allocation in time. Now the difficulties have arisen with the state loan of Russia in the amount of 600 million dollars agreed in April this year.

Кредит на выплату кредитов. Москва дает $ 600 миллионов


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