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Unknown Investors “Lent” Almost Half A Billion Dollars To Belarusian Ministry Of Finance

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Unknown Investors “Lent” Almost Half A Billion Dollars To Belarusian Ministry Of Finance

Domestic investors have bought bonds at 482.1 million dollars from the Ministry of Finance.

While Belarus is trying to attract global investors with Eurobonds, the domestic investors have “lent” it 482.1 million dollars, having bought for this amount state long-term foreign currency bonds in August.

This is evident from the data published by the Ministry of Finance on the selling of government bonds of Belarus as of September 1, ej.by reports.

According to the Ministry, for the period from January 1 to August 31, 2016, the sum at which the state long-term bonds nominated in foreign currency were sold amounted to 902.3 million dollars. According to previous reports of the Ministry of Finance, summing up the results for the period from 1 January to 31 July 2016, the amount of placement for bonds was 420.2 million dollars. In other words, sales of government bonds in foreign currency rose by almost half a billion dollars during one month and amounted to 482.1 million dollars.

The Ministry of Finance does not comment on who was the buyer of such a large amount of government securities. According to experts, it could be “subsidiaries” of Russian banks operating on the Belarusian market. By the way, Russian Sberbank credited the Belarusian economy by a similar scheme earlier.

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