Belarus’ debt to grow by half a billion

• 13.10.2010, 12:19

Placing state bonds of Belarus for the sum up to 15 billion Russian roubles at the Russian market can take place in November.

The Finance Ministry of Belarus has started passing through the state procedures necessary for access of the bonded loan to Russian investors. It was said to BelTA reporter in the Finance Ministry of Belarus.

“The Finance Ministry of Belarus together with organizers of the issue has started to pass state procedures necessary for access to the debut bonded loan to be placed among Russian investors. All documents for that have been prepared by the Belarusian side,” the agency noted.

A representative of the Finance Ministry specified: “The decision to issue bonds and its parameters is to be adopted proceeding from the existing situation at the financial market of Russia. However considering the terms for these procedures under the Russian legislation, it is expected that Belarusian state bonds are to be placed at the Russian market will take place in November.”

We remind that on October 9 Lukashenka signed Decree #527 “On organizing of issuing state bonds of the Republic of Belarus.” According to the document, the government of Belarus has been granted a right to issue five-year public bonds to the total amount of 15 billion Russian roubles in Russia in 2010-2011. The Council of Minister to adopt an enactment following this decree.

Organizers of the issue are 4 Russian banks: Sberbank, Gazprombank, Vneshekonombank and Alfa-Bank.