Lukashenka to borrow via executive committees

Lukashenka allowed local executive committees and Minsk executive committee to issue Eurobonds during 2011-2012.

According to his decree No 75, regional executive committees and Minsk municipal executive committee can issue Eurobonds for funding of investment projects. The debt limit defined in local budgets for the financial year limits the allocation of Eurobonds, RIA “Novosti” reports.

Eurobond loans will be debts of local governance authorities, and not Belarus external debt.