You are here

Russia to refinance Belarus' debts

Russia will refinance the debt of Belarus and help with the funds of the Eurasian Foundation of Stabilization and Development. First Deputy Prime Minister of Belarus Vasily Matyushevsky told reporters about the agreement reached during the meeting between Alexander Lukashenko and Vladimir Putin on April 3.

Vasily Matyushevsky, First Deputy Prime Minister of the Republic of Belarus:
During the first part of the conversation, Vladimir Putin was informed about the implementation by Belarus of the program in the framework of the Eurasian Fund of Stabilization and Development, about certain issues and irregularities that were present in the program. At the Russian president's level, we have received the support of our initiatives regarding the further continuation of this program.

A series of questions concerned the possible refinancing of the current debt to the Russian Federation. We're talking about the refinancing of the debt that we have to repay as part of our bilateral loans this year. This is about $750-800 million - the principal sum and interest to be repaid this year. The principled decision was made.

The total volume of funds of the Eurasian Fund of Stabilization and Development is $8.5 million. It was created by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan to assist countries in times of crisis.

Russia to refinance Belarus' debts