Head and Ears in Debt

In 2015 Minsk is to pay off Br 2 billion 700 million dollars of external loans.

The Finance Ministry of Belarus has refuted reports about delay in debt payment for Russian loans. Representatives of the agency have stated that this issue had not been considered at the session of the Council of Ministers of the “union state,” Belsat reports.

The statement was made in response to articles in Russian and Belarusian mass media. It was said with a reference to the materials of the session that the Kremlin had agreed to a time-out on repayment for Russian loans till the next year.

Last year Russia lent more than $2 billion to Belarus. In March this year the sides signed an agreement about another loan, $110 million, and in July – about $760 million.

This year Moscow agreed for restructuring of debts for $1 billion 300 million, but even considering this sum, in 2015 Minsk is to repay $2 billion 700 million of external borrowings.